SUMMARY
Bitcoin Cash (BCH) is playing the Hurry Up & Wait scenario beautifully! (Video has much more details). The below shows a very sexy Bullish Ascending Right Triangle with a minimum price target of $3,233. The video explains how to calculate this target and draw the lines. The bottom line is check out how Bitcoin Cash rused the earlier five waves that ended in a flame out and now is taking a tortous amount of time to correct. The e wave could perhaps not complete until next Wed or Thursday! BUT, who cares? IF this pattern becomes complete and confirmed....BULLISH! Is now a good time to ladder in? Yes, especially given the bullish wick indicator.
The BCH/BTC pair is a laggard. The abc correction could take this direction. So, one more lower low would be called for prior to an impulse.
BCH/BTC could take this direction and pattern but more unlikely than the first. Regardless, BCH/BTC will have to play out the Hurry and Wait scenario as well. Regardless, it doesn't matter which correction pathway BCH takes...the destination remains the same....UP!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**