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$BCH - C'mon move PLZ!

911
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
syot kilat

Take Care.Stay Safe.

This forms the part of our original idea
$BCH - A conservative outlook to 50 EMA ($220) and beyond
Nota
Breakout and the resistance from 50 Day MA. I'm expecting that will be overcome
syot kilat
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+-)
syot kilat

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
syot kilat
Nota
Touchdown, lets hope there is a bounce now
syot kilat
Nota
Good bounce at E. Need to cross $163 (50 Day MA) and stay above it to continue the move up
syot kilat
Nota
Nice, we crossed 50 Day MA ($163). I've taken a long at $155+ and now moved the SL@$160. If this is an 5 wave impulse than the price can't go below wave 2 bottom ($155)

syot kilat
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 downward

If 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

syot kilat
Nota
And we broke above the 50 DMA. Taken a position, but still cautious. I'm still uncomfortable till we cross 170-180

syot kilat

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