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RE: Bitcoin Cash Update: Is the correction over? Subwaves are counting nicely in form & fit. See how here....
Thank you for the Elliot Wave knowledge @haejin! I've been studying Elliot Waves the last couple months and have a quick question for you. If wave C completes the 8 wave cycle, is the next wave 1 an impulse wave up to start the cycle again? You mentioned in your last post a 300 BCH low but this post above predicts the C wave may be ending in the mid 500's, so this newbie is unsure. Thank you in advance for your answer!
Yes, post abc, an impulsive 1,2,3,4,5 is needed to signal a change in trend. The $300 was using the ascending right triangle pattern and the current 500 is using EW. So, the bottom can be between the two....or a ladder could be built encompasing somewhere in that range.
Understood...thank you! If it seems a 1-5 wave ladder up seems likely once the low is hit, I will hold what I have. I bought dips and sold spikes from 300 up to 850, then bought back at 800 and got stuck there. I don't want to sell if it looks like a ladder up may be starting soon. I'm willing to let it get back over time. Thank you!
My style is to take my money and run. This is why i believe in taking my profits and cutting losses. I never let a trade turn into an investment when it turns against me.
Good advice. We'll see if the Swiss buy into BCH tomorrow with their newfound CC access and get the price up some more. Perhaps that will hedge the loss enough to cut losses and wait for another dip.
This is excellent work.
Brilliant!
This is exactly what I needed.