When Bitcoin Cash (BCH) was in the corrective decline; the below chart was used. The ABC correction was likely in the final stage with a one more lower low and a $682 target was used.
Currently, price is showing at the early stage of a sizable rally after hitting a $759 lower low. The key question is how high this rally will go.
What's clear is that a breakout has occurred! The upper line of the symmetrical triangle was breached decisively and price is holding up quite well! From the most bullish stance, breakouts from these wedge rallies often exceed the starting point! Let's see how the next few days show us as an impulse should be showing.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf