RE: Bitcoin Cash (BCH): Five Waves Up

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Bitcoin Cash (BCH): Five Waves Up

in bch •  7 years ago 

Hi Haejin, I would be careful to be so bullish on the correction. Let me explain, if BTC is doing a running flat correction to the 12k zone (11.5-12.5) and then we head down for a Y, the alts most likely will do a 78.6%-88% retracement down just like they did from January. So I would paint a worst case scenario for your followers so they are not too hyped on bullish scenario. I see BCH going to about $1900 to finish Wave 5 but then may follow BTC down to a retracement into mid/end August where we could do another WXYZ correction for Wave 2 (of Wave 1) and we may see $800 BCH. Just wanted to let you know in case you would like to provide the Bear scenario for your followers so they can be prepared for the worst. Thanks for your TA.

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I fully agree and posted a similar question with the ADA update. To quote a very wise man: “If BTC sneezes the entire cryptosphere is catching a cold”...!