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

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

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


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