Bitcoin Cash Update: Is the correction over? Subwaves are counting nicely in form & fit. See how here....
In Elliot Waves, the c wave of an abc is almost always the longest and thus it retraces very deeply. Just like here in Bitcoin Cash. The a and b (red) waves are placed and the c wave is still in progress. I've labeled the subwaves of c in white i,ii,iii,iv,v markings.
So, is the c wave almost over? Based on the sub waves, it seems the end might be near.
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Would love to see one more leg down before I am in. However arbitrage between Kraken and Cex.io is 4.6% if this go's to 7% -9% then its like making a trade and cover loss risk. I moved the money back yesterday using ETH at
minus 2% including cost.
I think i am looking at a sub wave 4 So should be sub wave 5 down?
Finally, the correction we've been waiting for =)
If I only had a crystal ball!
Nice to know! awesome update as always. im planning a re-entry on 500-450 by laddering like you taught :D
I wish you MASSIVE profits!
dont quite understand how the market is behaving right now, with BCH spiking back up, probably to ATH. @haejin
Rooting for it!
Correction far from over ,
No doubt we will see bounces along the way , but going much lower especially when over 50% of the volume was in Korea
This was manipulated
And money moving into something else ...like LTC ...
If it moves into LTC, i'm in it and would happily take the profit when it arrives.
Enjoy reading all your post ...
Personally Trading stocks for over 20 years and stoped to trade the more exciting crypto ...
You definitely know your stuff / charts
Thanks for the kind words. I also now am largely trading cryptos. Stocks don't work as well with EW like cryptos. Because stocks have the PPT to manipulate and bend the waves.
You've got the X-factor!
Long way down to go still me thinks.
Here's my post about this being a foreshadow of the crypto market bubble:
https://steemit.com/bitcoin/@exxodus/is-bitcoin-cash-a-foreshadow-of-the-crypto-future
Upvoted and commented! Thanks
Following!
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.
You nailed it!