Crypto Contest November 17: Bitcoin Cash

Bitcoin Cash (BCHUSDT) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com)

Elliott Wave Analysis

In Elliott Wave terms, Bitcoin Cash began a wave one advance on October 9. The wave one finished on November 3, and the wave two correction ended on November 8. The wave three advance finished on November 12, and the wave four correction ended today on November 17. If this wave count is correct, Bitcoin Cash should be heading next towards the November 12 peak in the wave five.

(Chart courtesy of Tradingview.com (log scale))

Zooming out in the daily chart, I believe Bitcoin Cash is currently in the red wave three (blue sub-wave v). The red wave one began on August 14.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Bitcoin Cash is trying to brand itself as peer-to-peer digital cash:

Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.

(Source: https://www.bitcoincash.org)

If you think this analysis is correct, upvote this post and upvote the comment "Bitcoin Cash will takeout the November 12 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Bitcoin Cash will drop below the November 8 low".

If you think Bitcoin Cash is in a range, upvote this post and upvote the comment "Bitcoin Cash will stay in a trading range between the November 8 low and the November 12 peak until December 18".

You can upvote the comment until 3 PM EST November 18 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).