BCHUSD Elliot Wave

Wave Degree
Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.

if one of these rules break elliot wave is off the table.

Relation Between Fibonacci and Elliott Wave Theory
• Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
• Wave 3 is typically 161.8%, 200%, 261.8%, or 323.6% of
wave 1
• Wave 4 is typically 14.6%, 23.6%, or 38.2% of wave 3
• Wave 5 is typically 61.8%, 100%, or 123.6% of wave 1
• There are three different ways to measure wave 5. First, wave 5 is 61.8%, 100%, or 123.6% of wave 1. Second, wave 5 can be measured as 23.6%, 50%, or 61.8% external retracement of wave 4. Third, wave 5 is 61.8% of wave 1-3

Where are we at? According to Elliot Wave with different time intervals we definitely are in wave 4. See the intervals below.

Daily chart

4 hour chart

1 hour chart

Since BCHUSD -1.89% made a very sharp correction we can conclude that reversal of wave 5 ''probably'' is gonna go sideways up. Now whether you should go ''long'' is completely your choice.