The correction appears to be over at $140 and also because the recent move kept the price above that level. So I'm marking that as end of Wave 2 (orange). This puts us at the beginning of Wave 3. The target is between 200-210, considering that 50 Day EMA is at $212 offering lot of resistance.
Also note the Bull flag that formed with its target at "C" i.e above $260 (5th wave). Also the BCHBTC ratio is bullish as well, check the linked post
The invalidation will be below $140, which means this was an incorrect wave count.
Another view where the correction is almost over with breakout range

Take Care.Stay Safe.
This forms the part of our original idea

Also note the Bull flag that formed with its target at "C" i.e above $260 (5th wave). Also the BCHBTC ratio is bullish as well, check the linked post
The invalidation will be below $140, which means this was an incorrect wave count.
Another view where the correction is almost over with breakout range
Take Care.Stay Safe.
This forms the part of our original idea

Nota
There was no 5 wave impulse, instead I could see only 3 sub-waves and B could not be crossed. So modified existing structure with E unchanged ($150+-)Here is a more bearish structure which calls for 0.618 Fib ($133) or lower. But the C target (white) remains unchanged above $250. Of course, we turn bearish if price goes above $180
Nota
I will add more if the price can stay above the 50 MA (1 or 2 Hourly candles)Nota
The price never managed to stay above the 50 MA (now at $158.5) and dropped multiple times to SL zone ($155). Furthermore the waves now appear to be ABC which indicated further move downwardIf we can't breach the 50 DMA in the next day or two or drop below 155-150, we go with our 2nd bearish chart above
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Follow me for more updates
twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
Penerbitan berkaitan
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.