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BCH-Fibonacci/Wave Analysis-Leading Diagonal-Apex

$BITFINEX:BCHUSD is forming the apex of the leading diagnoal.
This Idea is to track the price-action coming out of the the leading diagonal.
For Further Analysis see related idea.
Review:
BITFINEX:BCHUSD 7.62% has been in a bear market since reaching an all-time high in December 2017 (273 days ago).


1. Primary Wave Sequence (Green)
-Wave 1: +347.02%
-Wave 3: +899.29%
-Wave 5: +382.22%
- 133 Days
2. Correction Sequence (Yellow)
-A Wave: 5 Waves (Pink) (-84.87%)
-B Wave: 3 Waves (+197.89%)
-C Wave: 5 Waves (Orange) (-77.95%)
-Fib. Extension (5-A-B)
3. Fibonacci Extension: Wave 1 & Wave 2
4. Wave Sequence Price Increase: 2,290.84%
- $215.00/$4,104.30
- 133 Days
5. Wave 2 Price Decrease= 90.06%
- $4,104.30/$407.90
- 273 Days
6. Fibonacci Time Extension: Wave 1/Wave 5 (Yellow)

The Beginning:
Idea: BCH-BREAKOUT-Imminent
The Correction ended at $426.40 with a sharp reflex followed by a Micro-Wave sequence.
The Micro-Wave was a lower degree Wave 1 & Wave 2.
The 3rd Wave extended over 700% of Wave 1 & Wave 2.
The 4th Wave Correction resulted in what Elliot called a 'diagonal triangle'.
There are two main types of diagonal triangles. One is where the two boundaries of the triangle converge and the other where they diverge. The second type is known as Expanding Diagonal Triangles. Irrespective of whether they are converging or expanding diagonal triangles, if they occur in the first wave position, where they are known as ‘leading diagonal triangle’, the internal waves are made up of 5-3-5-3-5 sub waves. If they occur in the fifth wave position, they are known as ‘ending diagonal triangles’ and the internal waves are made up of 3-3-3-3-3 sub waves. For example, in an uptrend, the ending point of the fourth wave diagonal triangle will be near or even above the top of the third wave. Then all of a sudden, when the ‘e’ wave of the triangle is finished, price will break even higher and the fifth wave will race upwards.
The corrective sequence occurred in the Wave A position making it a leading diagonal .
When it occurs in Wave A position, it becomes a leading diagonal triangle, and when it occurs at the Wave C position, it is an ending diagonal triangle.
A diagonal triangle differs from a regular (horizontal) triangle in that it slopes in the direction of the trend. So when the eventual break out happens, the next move will be in the opposite direction.
The third wave traveled a considerable distance in a short space of time, and the diagonal triangle itself appeared sloping in the direction of the major trend which hints that the 5th Wave will extend.
The internal waves of the correction were 5-3-5.
The correction was also complex by having 2 correction sequences of ABCDE.
Instead of breaking higher the move broke down and consolidated further and formed a larger leading diagonal.
The next wave sequence is estimated to last 259 days till July 1st, 2019.



Cheers!
-AB
This Idea is to track the price-action coming out of the the leading diagonal.
For Further Analysis see related idea.
Review:
BITFINEX:BCHUSD 7.62% has been in a bear market since reaching an all-time high in December 2017 (273 days ago).
1. Primary Wave Sequence (Green)
-Wave 1: +347.02%
-Wave 3: +899.29%
-Wave 5: +382.22%
- 133 Days
2. Correction Sequence (Yellow)
-A Wave: 5 Waves (Pink) (-84.87%)
-B Wave: 3 Waves (+197.89%)
-C Wave: 5 Waves (Orange) (-77.95%)
-Fib. Extension (5-A-B)
3. Fibonacci Extension: Wave 1 & Wave 2
4. Wave Sequence Price Increase: 2,290.84%
- $215.00/$4,104.30
- 133 Days
5. Wave 2 Price Decrease= 90.06%
- $4,104.30/$407.90
- 273 Days
6. Fibonacci Time Extension: Wave 1/Wave 5 (Yellow)
The Beginning:
Idea: BCH-BREAKOUT-Imminent
The Correction ended at $426.40 with a sharp reflex followed by a Micro-Wave sequence.
The Micro-Wave was a lower degree Wave 1 & Wave 2.
The 3rd Wave extended over 700% of Wave 1 & Wave 2.
The 4th Wave Correction resulted in what Elliot called a 'diagonal triangle'.
There are two main types of diagonal triangles. One is where the two boundaries of the triangle converge and the other where they diverge. The second type is known as Expanding Diagonal Triangles. Irrespective of whether they are converging or expanding diagonal triangles, if they occur in the first wave position, where they are known as ‘leading diagonal triangle’, the internal waves are made up of 5-3-5-3-5 sub waves. If they occur in the fifth wave position, they are known as ‘ending diagonal triangles’ and the internal waves are made up of 3-3-3-3-3 sub waves. For example, in an uptrend, the ending point of the fourth wave diagonal triangle will be near or even above the top of the third wave. Then all of a sudden, when the ‘e’ wave of the triangle is finished, price will break even higher and the fifth wave will race upwards.
The corrective sequence occurred in the Wave A position making it a leading diagonal .
When it occurs in Wave A position, it becomes a leading diagonal triangle, and when it occurs at the Wave C position, it is an ending diagonal triangle.
A diagonal triangle differs from a regular (horizontal) triangle in that it slopes in the direction of the trend. So when the eventual break out happens, the next move will be in the opposite direction.
The third wave traveled a considerable distance in a short space of time, and the diagonal triangle itself appeared sloping in the direction of the major trend which hints that the 5th Wave will extend.
The internal waves of the correction were 5-3-5.
The correction was also complex by having 2 correction sequences of ABCDE.
Instead of breaking higher the move broke down and consolidated further and formed a larger leading diagonal.
The next wave sequence is estimated to last 259 days till July 1st, 2019.
Cheers!
-AB
注释
Near-Term Target: $800-$730 (30-90 days)Long-Term Target: $2800 (180 days)
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Main Question that comes to my mind is do we breakout of the Leading Diagonal Now...Or Consolidate further into the Apex
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High Probablity of Breaking out...Elliot Rule...
Wave 3 CANNOT be the Shortest Wave...
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TRADE: BUY: $475
SELL: $530
BUY: $475
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Trade Targets are NOT exact. The Trade is for Wave B & C.Wave B should come very close to Terminal Wave 3. Wave C should bottom at Terminal Wave B. I’m
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Wave B is Always 3 sub-waves注释
Here comes the trade...注释
Always be on alert for Extensions...注释
Time to break the Leading Triangle?注释
5 tiny sub-waves in Wave C?注释
New Trade: Sell at Wave 5 Terminal注释
Next 36 hours the wave sequence will be complete.注释
Above: Extending S1注释
Should beginning the move momentarily...注释
Smaller leading diagonal within larger leading diagonal注释
Almost at the pinnacle of the leading diagonal注释
Time for Take-off?注释
3rd sub-wave of the higher degree 3rd should be starting now.注释
Above: Fib Spiral intersect from Cycle Wave A and B注释
Marks the end of Cycle Wave Correction注释
Or aka Wave C注释
STOP注释
Lower Degree - TealHigher Degree - Green
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Higher Degree:Wave 3 Target - $606-$650
Wave 5 Target - $735-$800
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Above: Nearing the Apex.注释
Breakout Imminent!注释
Above: Complex Correction: FLAT + ZIGZAG注释
Selling should be over or getting close...注释
Live updates to make sure I am right about this move注释
Target Hit.注释
A few more ticks to go...注释
$436 is next target注释
Gap opening...注释
Price-Action looks good.Analysis Stands.
Stay the course.
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Wave 5 is looking to extend注释
Scenario 1 : 5th Wave Extends Scenario 2 : Correction
STOP can be placed firmly at $430.49 (Coinbase)
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Scenario 2 occurred, no impact on analysis. Cheers!
-AB
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Reminder: Wave 1 can be sloppy...注释
Higher Degree Wave did not fail. The image where I noted where my analysis would failed if the $422 level was crossed.注释
Excuse typing errors please on my phone.注释
Analysis still stands.Stay the course.
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Wouldn't be surprised at all if BCH just shoots upwards.注释
Above: Higher Degree Wave注释
Above: Firm Stop $424.99 (Coinbase) & Retrace levels注释
Price-Action is showing a leading Diagonal注释
The only formation that can violate Elliot's Wave laws. Wave 2 can never exceed the start of Wave 1
Wave 4 cannot overlap the price area of Wave 1
Wave 3 Cannot be the shortest impulse Wave
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Breakout should be imminent...注释
Lower Degree Wave 5 ExtendedHigher Degree Wave 5 SHOULD Extend
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Lower Degree Wave 1 & 2 near completion注释
I will be updating throughout the day...注释
Wave 3 Target hit.注释
Wave 3 Extension imminent.注释
It’s amazing, every time BCH tries to rally a seller(s) come in to block. What the...注释
Note to Seller(s): You Will Not Win!!!!注释
Sellers can only surpress price down for so long...it is NOT definite.注释
Wave 4 should terminate near Wave 1 terminal.注释
Still expecting an Extended 5th Wave注释
Price-Action looking very strong...Is it time for the Big Move?
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Fib Spiral 1: Wave 3 - Wave 4 = Target for Wave 5 Fib Spiral 2: Wave 5 (Sub-Wave 1) - Wave 4 = Timeline for Wave 5 (Sub-Wave 3) to begin
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Approx. 4 hours till next leg higher.注释
The main difference between Wave 3 extensions and Wave 5 extensions is that Wave 5 extensions take longer to complete.注释
Hoping this Sequence will break us out of the leading diagonal!注释
Reminder: This is Higher Degree Wave 3 beginning注释
Higher Degree Wave 1 & 2 (Yellow)注释
Elliot Rule: Wave 3 CANNOT be the shortest wave!注释
Higher wave near-term targets are Fib Extension level 1 & 1.618注释
Reminder: No way to guarantee where extensions end.注释
Please give me a like if you find this analysis to be useful!注释
The BIG move imminent...注释
Review: 1. Higher Degree Wave 3 Beginning
2. Lower Degree Wave
- Wave 1 - Leading Diagonal (Normal)
- Wave 3 - Passed 1.618 but failed to extend
- Wave 5 - EXTENDING
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Plan to open a new idea as soon as we break this leading diagonal注释
Bare Minimum Wave 3 has to reach $606.注释
Micro-Wave Sequence complete.Sell and buy back at Wave 1 Terminal.
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Waves are like Russian Nesting Dolls注释
Trade opportunity! If you do not want to trade the correction, place a firm stop just under the beginning of Wave 1
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Reminder: Wave 2 can retrace up to 100% of Wave 1. The most common retrace is between Sub-Wave 1 Terminal and Sub-Wave 2 Terminal. I have represented this with the Red Fib Spirals.注释
Wave 2 Corrections are usually in the ZigZag Formation (5-3-5).注释
This is where you would sell...Watch out for the extensions...
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Price-Action Broke 1.236 LevelWatch 1.382 and 1.618 Next...
Looks like the 5th Wave Extension is not over.
Are the shorts starting to cover?
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Fib Spiral Intersections are Key.Green Circle shows two Fib Spirals intersecting...
This is how I read Fib Spirals...
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Looks like Major Rally is Straight Ahead...注释
$562 level is still pointing out to me...注释
Looks like one more move down to between $447 & $444 then get ready for the next leg higher which should be to at least $520.注释
Above: S1 & S2注释
Counting Waves is an Art not exact science...注释
ZigZag Correction should be ending now...注释
Above: Extending Higher Degree Wave 1 Not HIGHEST DEGREE (Still in larger WAVE 3)
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Here is Wave 2 Bottom.Now we are going higher...
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Above: Sub-Wave Sequence注释
Above:Added Extension Trigger
Added Wave Sequence
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5th Wave was Normal注释
Correction should be ending momentarily...注释
Correction was FLAT (3-3-5)注释
Prepare for the ‘Big’ move...These levels will likely not be seen again...
Buy what you can here.
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Will update shortly.注释
Wave 1 extended then pulled back...Stop Triggered.
Opportunity to pick up more BCH.
Analysis still stands.
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Wave 2 came down in a 3 wave sequence which implies a Flat Correction注释
Wave 2 Correction Complete注释
6HR ViewAdded Fib Extension (1&2)
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Wave C needs to complete 5 Sub-Waves in order to be complete.注释
Price-Action Update:注释
Breakout imminent注释
Expect Wave 5 to Extend.注释
Above: Fib Time of Wave 1注释
10 mins or so left...注释
Looks like we are going to have a correction sequence注释
Wave A bottomed in 5 Sub-Waves which tells us its a ZigZag correction注释
Wave B usually travels back up to the .618 level of Wave A.注释
Wave C is always 5 sub-waves and bottoms between the 1 & 1.618 fib. Extension level from waves A & B注释
Hypothetical Action注释
#Slowwalker注释
Micro-WaveWave 1 is Normal
Wave 3 extended
Wave 5 Normal
Expect higher degree 3 extension
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Look for correction to end near 1.382/1.618注释
This wave (3) should extend注释
Fib extension 1 & 2注释
Wave 3 should pass 1.618 or $442注释
Notice all The Fib Spiral Intesections注释
Wave is tends to be a sloppy formation注释
Above: Yellow Box: Failed Wave
Now: beginning a new micro-wave formation
*please excuse typing while on my phone.
Stay the course!
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Above:Teal: Primary Wave - Sub-Wave Sequence
Red: ABC Correction
Orange: Primary Wave 1 & 2
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Above: Hypothetical Action注释
We have to be getting close...注释
Note the Red Spiral Intersection注释
Getting really close to breaking out...注释
Tiny Sub Wave 3 beginning注释
S1 & S3 we’re near equality Expect 5th Wave to extend
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Wave 5 broke .618 from Fib Extension 0-3-4 which implies it’s extending. Also, it broke the channel line from Terminal wave 1 and Terminal wave 3注释
We are reaching the end of the leading diagonal...The next move high should begin at any moment...
Micro-Wave Sequence & ABC Correction ending now..
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Correction close to ending注释
Price should not go below S1(0)注释
Take emotion out and trust the analysis注释
Reminder: Its extremely difficult to count 1-3 minute wave sequences. Counting waves is more of an Art than Science. Waves can change and waves can fail. If I do see a change in the formation I will update the idea asap. For example, if I originally said it’s a ZigZag Correction but it’s actually a Flat correction I will update the idea to notify the change in the price-action. Just wanted to let this be known and it is the main reason why I provide so many price-action updates.
Stay the course...we are getting close to the finish line!
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You could place a STOP near S1(0)注释
My stop is at $424.89注释
Expecting BCH to takeoff anytime...注释
Analysis is about to be proven correct...注释
Ye o little faith...注释
Last chance to load up on BCH!注释
If I don’t post a comment with a chart update I’m just showing the price-action and making sure it is still ‘following’ or ‘riding’ a spiral.Nothing more and nothing less...
I would notify with comment if there was a change in the analysis.
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$476.90注释
Add Fib Extension to Sub-Wave 1 & 2注释
See the Leading Diagonal?注释
Beautiful Chart Above...Fibonacci and Wave Theory
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Sub-Wave Sequence Complete注释
Ignore stop above.注释
Sub-Wave 3 was Normal注释
Who dumped 5,000 BCH? Stench of Manipulation...
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Higher Degreee has not completely failed...注释
IF we go below 407.65, analysis will fail...注释
Wave 2 CANNOT go below the price area of Wave 1.注释
If Wave Theory is correct we should be ok...注释
Just double checked the Wave counts.注释
Fib Time 5 marks the end of a Wave Sequence (1-5 Waves + ABC Correction).注释
ZigZag (5-3-5) instead of Flat (3-3-5)注释
Analysis Stands注释
I think it is safe to say we are at the Apex.注释
Above: Log Format注释
It should be getting close to time to tell whether this idea will be proven correct or fail.注释
BCH/BTC HAS BOTTOMED! Been over the analysis many times....we can only go higher...注释
Corrected the Wave Count...Wave 1 Extended
Wave 3 Normal
Wave 5 Normal
Expect higher degree Wave 1 To extend...
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Wave 3 of this Sequence will hit $440 if the theory stands...注释
BCH/BTC will sooner or later be like a rocket launch注释
Should be going higher in approx. 9 mins...注释
2.618 is a level that keeps appearing in my analysis...Likely level for Terminal Wave 3
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Pink Sequence - Hypothetical Action注释
Do or die time!注释
Will this analysis fail or be right...Just tell me!
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Just to know that I'm not placing the Fib Spiral randomly. Above is the Wave count as I see it.注释
Wave 3 Terminal: $440-438注释
Higher Degree Wave 2 completely finished. Higher Degree Wave 3 is beginning...
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Higher Degree Target:$6500注释
Now the goal is to get rich along the way and trade the Sub-Waves to Higher Degree 3rd Terminal then Sell into the 4th Wave.注释
Heavy hitters on deck注释
Wait for it...Batters on deck...
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Heavy Hitters...The Rush...
Climax...
Everyone thought it was going lower...
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New idea coming soon...注释
Strong MACD crossover注释
Breakout imminent...注释
Wall Street money incoming...注释
Wave 3 was Normal.Expect extended 5th.
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Wave Failed....Don't Panic...
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This will start a Wave Sequence注释
Upside Down ABC Correction注释
Only used 'ABC' because there is no other '123' SequenceCorrection: 3-3-5
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Ahh so close....Hurry up BCH!
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I spoke a little soon when I said BCH Cycle Wave 2 was completely finished...It's ALMOST!
Need this Last C Wave which will turn into a Wave Sequence.
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99.99% Positive my analysis is correct...注释
Damn, it feels good to be right...注释
New idea will be finished soon...1 hour or so...
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<deleted>注释
New Idea Above!免责声明
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