BCH is currently consolidating in 12h cloud. From there it may rally for a new all time high.
It seems that it's currently somewhere between Elliot wave 4-5. Even if this is not clearly seen with candles, it can be seen with lines.
It also seems that it's forming a pennant
I expect that the 5th wave to be at least the same length as wave 3, but it can be slightly lower.
This is an update for old prediction
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Even if it broke down, I am still holding it as it seems to still have power to go further.
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Stumbled over this chart from @Dalin_anderson and it really seems that we BCH made the same move BTC did in 2015.
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It seems that I have counted wrongly the wave sequence.
I will add more to the current position in order to get a better average. First of selling targets is around the old buy zone but will also look for a possible all time high.
I think it has a strong chance for 5k+ as well. Those cloud indicators you use are interesting. I was just going off of fib trends.
WealthMurphy
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@jollygreen, a target close to yours was sent to telegram users too.
I always use the clouds in TA, you can find more about what I use them for on other charts. Some TA have more text added to them :)