BCH - BREAKOUT - Imminent - Micro-Wave for BITFINEX:BCHUSD by FibMarketWatch

BCH - BREAKOUT - Imminent - Micro-Wave

BITFINEX:BCHUSD is on the cusp of breaking out.

We have completed a Micro-Wave.

See Related for further analysis.

Will update.

-AB

Note

Micro Wave had an extended 3rd Wave...

Note

Wave 3 is extending

Note

Levels

Note

Looks like we are going to test $488 which is a key level I talked about in the related idea.

Note

3HR: Added Spirals...

Note

Correction Wave B Extended Beyond the Beginning of Wave A.

Note

Lower degree 3rd and 5th Waves Extended.

The Wave B that follows will also be in three sub waves but the price will exceed the top of Wave 5. Thereafter, we will get a normal Wave C made up of five sub waves.

Note

$556

Note

According to Elliott, diagonal triangles are often found as Wave 4 in situations when the upcoming fifth wave was likely to extend. The third wave would have traveled a considerable distance in a short space of time, and the diagonal triangle itself would appear sloping in the direction of the major trend.

Note

The sub-waves had extending 3rd and 5th impulse waves.

Get ready for another strong move up!

-AB

Note

Buckle up!

Note

5th Wave has passed .618 [Fib Extension from 0-3-4]

Note

Fib Extension (0-3-4)

Note

We have an extending 5th as predicted. It is impossible to tell where extending waves end. This is when indicator can be helpful along with wave analysis.

Note

Sub-Wave 3 has passed 1.681.

Note

Next level is 1 (Fib Extension 0-3-4), if it passes 1 then look to 1.681!

We will have a sharp correction when the 5th Wave completes.

Note

Looks like $627 could be the terminal point for the higher degree 5th Wave.

Note

It is just as common to see a fifth wave extension as you can see a third wave extension. The only difference is third wave extensions are quick to reach their targets.

Note

Volume profile. Heavy Buying...

Note

About 4 hours till next breakout...

Note

Another leg higher...

Note

For updates go to:

Trade closed: target reached

FibMarketWatch

Also on:

FibMarketWatch

Also on:

Related publications

BCH - Analysis - Primary Wave 1 & Wave 2 Correction - $423

by FibMarketWatch

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.