Hello traders,
Bitcoin Cash is one of the strongest cryptocurrencies. We have seen a huge extension towards 350 area for wave "iii", where price slowed down in wave (iv) correction which more and more looks like a bullish triangle pattern. So, once a triangle in wave "iv" fully unfolds, that is when we may see a continuation higher for wave "v" towards 400 area or higher. That said, as long as price is trading above 170 invalidation level, we will remain bullish.
BCHUSD 4h
A Triangle is a common 5-wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. A Triangle is either contracting or expanding depending on whether the channel lines are converging or expanding. Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3.
Triangles can occur in wave 4, wave B, wave X position or in some very rare cases also in wave Y of a combination.
Example of an EW triangle:
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP show signs of bullish momentum
Bitcoin’s price is approaching its key psychological level of $100,000; a firm close above would signal the continuation of the ongoing rally. Ethereum price closes above its upper consolidation level of $3,522, suggesting bullish momentum.
Crypto Today: PEPE, Solana, BTC in early lead as Elon Musk, Michael Saylor spark 2025 market rebound
The cryptocurrency sector valuation crossed $3.4 trillion on Friday, having increased by $253 billion within the first 3 days of 2025. The crypto market rebound has been linked to positive speculations on Trump's upcoming inauguration.
XRP Price Prediction: XRP overtakes USDT after Ripple unlocks 500M ahead of Trump inauguration
Ripple price reached a 14-day peak of $2.5 on Friday, as the mega-cap altcoins make a positive start to 2025. With market sentiment still trending cautious, on-chain data suggests XRP price could potentially score larger gains.
Bitcoin, Ethereum options worth $2.6 billion expire with correction as a major theme this week
Bitcoin and Ethereum options that expired on Friday have a combined notional value of over $2.6 billion. BTC and ETH prices are hovering around key support levels, recovering from the holiday dip in the last week of 2024.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.