Long
BCH - BREAKOUT - Imminent - Micro-Wave
$BITFINEX:BCHUSD is on the cusp of breaking out.
We have completed a Micro-Wave.
See Related for further analysis.
Will update.
-AB
We have completed a Micro-Wave.
See Related for further analysis.
Will update.
-AB
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Micro Wave had an extended 3rd Wave...
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Wave 3 is extending
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Levels
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Looks like we are going to test $488 which is a key level I talked about in the related idea. Note
3HR: Added Spirals...
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Correction Wave B Extended Beyond the Beginning of Wave A.Note
Lower degree 3rd and 5th Waves Extended. The Wave B that follows will also be in three sub waves but the price will exceed the top of Wave 5. Thereafter, we will get a normal Wave C made up of five sub waves.
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$556
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According to Elliott, diagonal triangles are often found as Wave 4 in situations when the upcoming fifth wave was likely to extend. The third wave would have traveled a considerable distance in a short space of time, and the diagonal triangle itself would appear sloping in the direction of the major trend.
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The sub-waves had extending 3rd and 5th impulse waves.Get ready for another strong move up!
-AB
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Buckle up!Note
5th Wave has passed .618 [Fib Extension from 0-3-4]
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Fib Extension (0-3-4)Note
We have an extending 5th as predicted. It is impossible to tell where extending waves end. This is when indicator can be helpful along with wave analysis.Note
Sub-Wave 3 has passed 1.681.
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Next level is 1 (Fib Extension 0-3-4), if it passes 1 then look to 1.681!We will have a sharp correction when the 5th Wave completes.
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Looks like $627 could be the terminal point for the higher degree 5th Wave.
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It is just as common to see a fifth wave extension as you can see a third wave extension. The only difference is third wave extensions are quick to reach their targets.Note
Volume profile. Heavy Buying...Note
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About 4 hours till next breakout...
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Another leg higher...
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For updates go to: 
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.