Analyzing Bitcoin Cash ( 
BCHUSD.P BCH) on the 1D timeframe using Elliott Wave theory, we observe a potential bearish continuation forming.
🔹 Wave Count & Structure
The primary structure suggests a Wave 4 correction has completed, leading to a possible Wave 5 decline.
A descending triangle formation has been broken, with an (A)-(B)-(C)-(D)-(E) wave structure confirming the pattern.
A sub-wave 1-2-3-4-5 impulse appears to be developing for the next downward move.
🔹 Key Levels
Entry Zone: The price has rejected from resistance around $350.
Target Zone: Bears could push price toward the $286 - $281 demand zone, with an extended target near $260 if selling pressure persists.
Invalidation Level: A break above $350+ would negate this bearish setup.
🔹 Market Context
Bitcoin's movement could influence BCH direction.
Confirmation needed with volume & candlestick structure before a strong move.
🚨 Bearish Bias – Watching for a potential breakdown continuation with proper risk management. Let me know your thoughts in the comments! 🔥💬
#Crypto #BCH #ElliottWave #Trading #BitcoinCash #Bearish #ChartAnalysis
BCHUSD.P BCH) on the 1D timeframe using Elliott Wave theory, we observe a potential bearish continuation forming.🔹 Wave Count & Structure
The primary structure suggests a Wave 4 correction has completed, leading to a possible Wave 5 decline.
A descending triangle formation has been broken, with an (A)-(B)-(C)-(D)-(E) wave structure confirming the pattern.
A sub-wave 1-2-3-4-5 impulse appears to be developing for the next downward move.
🔹 Key Levels
Entry Zone: The price has rejected from resistance around $350.
Target Zone: Bears could push price toward the $286 - $281 demand zone, with an extended target near $260 if selling pressure persists.
Invalidation Level: A break above $350+ would negate this bearish setup.
🔹 Market Context
Bitcoin's movement could influence BCH direction.
Confirmation needed with volume & candlestick structure before a strong move.
🚨 Bearish Bias – Watching for a potential breakdown continuation with proper risk management. Let me know your thoughts in the comments! 🔥💬
#Crypto #BCH #ElliottWave #Trading #BitcoinCash #Bearish #ChartAnalysis
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.