It looks like Bitcoin Cash (BCH) started the 5th impulsive (macro) wave last week and the price can reach $5,200 in the 1-2 months.
So, what has happened in the last months can be listed as below:
- The first impulsive wave started around $190 in August 2017 and ended around $970 after two weeks.
- The second corrective wave started around $970 and ended $297 in October 23rd, 2017.
- The third wave started around $297 and ended around $4,104 in December 20th, 2017.
- The fourth wave started around $4,104 and ended last week around $1,343.
When we calculate the time periods:
- 1st wave was around 2 weeks.
- 2nd wave was around 2 months.
- 3rd wave was around 2 months.
- 4th wave was around 1 month.
Based on the historic wave counts, I think, this 5th wave may take 1-2 months and we may see a price level around $5,200, which means a 300% increase from today's price level.
The price target can be higher but this is the lowest Fib level it can see. The higher price levels is also possible.
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