No matter how much Trace Mayer wants to trash Bitcoin Cash (BCH), overall sentiment will be in control and not one person's opinion. Attempts to manipulate can bend or stretch the Elliott Waves; but the overall sentiment always calls the shots. Based on Elliott Waves, pattern and MACD indicator; they disagree with Trace Mayer.
The below chart shows a phenomenal rise in five waves and just like any other crypto; even Bitcoin, the correction was steep and long in time. However the breakout seems quite decisive! The corrective complex wxyxz (blue) waves seem complete. What's next?
Given that the MACD has broken out, it's expected to well support the coming five wave rise as outlined in below chart (white). I would like to see two rounds of an impulse to solidly confirm a trend reversal and the first round seems only done with waves 1 and 2. The remaining 3,4,5 should provide short term higher highs.
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