Bitcoincash preferred view is a FLAT from 1,574.37 high that ended at 650.00. From there, a cycle is ended at 831.00 and while above 650.00, we should see higher.
There is no setup in BCHUSD at the moment. I'd like to see the structure of purple 1 and either buy the correction if structure is a motive 5 waves otherwise buy the correction in 1h after sequence is confirmed (purple 1 in place, purple 2 in place and break to new highs as usual).
Invalidation to the upside is 650.00 and more importantly 599.49
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View unchanged but count modified into lower degree.
new low in 1h is set to challenge 650.00. I don't like it here anymore and would stay aside.
It's tough to see but as long as invalidation level is not taken out, view remains unchanged. However, I won't trade this because chances are 50-50 now.
Bulls must fight here otherwise, the 4h and daily will turn very bearish
I have the break is RIS that I wanted. Now, we can start to put the foundation for what is coming next. This coming week or next one should provide opportunity.
The 4h reminds us that the road will be long here. So patience.
expecting at least one more high before correcting all cycle from the lows.
view unchanged but caution is required here as we may be in 3 waves to the upside and that is corrective. will explain in video and find best instruments to trade here
cycle from 662.90 low has ended but in what degree. Caution is going long in the 1h chart.