BCH-Wave Analysis-Extending 5th-Update
BITFINEX:BCHUSD
Wave 3 had traveled to over 400% projection of wave 1. It is interesting also to note that wave i within wave 3 was an extended wave by itself (special case). We then saw an irregular correction as wave 4.
The irregular wave 4 came down to the 23.6% retracement level. You already know that when a third wave extends, the ensuing fourth wave has a tendency to come down only by 23.6% of wave 3.
I have tried to project the possible end point for wave 5. But it has gone above the 61.8% measure of the distance from 0 to 3. Clearly, wave 5 is also extending, the rare case of two extensions within a five wave sequence.
Extending 5th should begin soon. Look for a sub-wave sequence to complete.
Will update.
-AB
Wave 3 had traveled to over 400% projection of wave 1. It is interesting also to note that wave i within wave 3 was an extended wave by itself (special case). We then saw an irregular correction as wave 4.
The irregular wave 4 came down to the 23.6% retracement level. You already know that when a third wave extends, the ensuing fourth wave has a tendency to come down only by 23.6% of wave 3.
I have tried to project the possible end point for wave 5. But it has gone above the 61.8% measure of the distance from 0 to 3. Clearly, wave 5 is also extending, the rare case of two extensions within a five wave sequence.
Extending 5th should begin soon. Look for a sub-wave sequence to complete.
Will update.
-AB
Not
Sub-wave
Note extending 5th
Not
Not
Not
Spiral Levels
Not
Not
Not
Smart Money on the move...Not
Above: On Balance Volume + Volume FlowNot
Here is the completed sub-wave.Time to go higher...
Not
Sub-wave didn’t hold...We should hold this level.
Not
Next up...
Extending 5th...
Not
Extending Wave 1?
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.