Technical Analysis

Bitcoin Cash Has Five Waves UpFeb 28, 2023

Bitcoin Cash has five waves up from the lows, which in Elliott wave theory suggests a three-wave slow down.

Bitcoin Cash with ticker BCHUSD is on the rise in the 4-hour chart, trying to catch up other cryptocurrencies and we can clearly see a five-wave rally from the lows. Well, a five-wave cycle can belong either to a wave “c” of a bearish flat correction or even as part of a bullish reversal, especially if we see an extended 5th or 3rd wave. Wave 5 looks to be completed now, so be aware of an A-B-C corrective slow down back to 120-115 area, which will be key support for bulls and bears.

Bitcoin Cash Has Five Waves Up 4H Chart
BCHUSD 4H Chart

We talked about cryptocurrencies in our WEBINAR this Monday. You can watch the recording below:

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

Register and look inside of our members area

SP500- Key support is at 3800. Check our chart HERE

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close