Bitcoin Cash BCH November 10 Technical Analysis Targeting $1,073 plus!

in #bitcoin2 years ago

Bitcoin Cash BCH Nov 10 Technical Analysis and Price Forecast, Elliot Wave and Trend Line

Based on fib extensions 1:1, a conservative target is $1,073. With fib extension 1.618, we are eyeing $1,557. Using Elliot wave rules, such as wave 3 is often the longest and never the shortest, that is wave 3 is always longer than wave 1, these targetse are achievable.

Bitcoin Cash surges as Bitcoin Segwit2x disagreement causes nosedive. Due to scalability issues, limited blocksize, and high transaction fees with Bitcoin, investors and businesses are moving money to BCH market where blocksizes are up to 8MB, with a possible 2 million transactions per day, versus Bitcoin's 250,000/day.

BTC segwit2x cancellation sped up the process.

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