This chart illustrates an Elliott Wave analysis of BCH Perpetual Futures on Binance, indicating a potential downward move. The price structure suggests that BCH has completed a corrective wave and is now resuming its downtrend. The prominent red arrow highlights a projected wave (5) continuation towards the $250-$260 range. If the structure holds, this could align with broader market trends and trader sentiment.
Key observations:
A completed corrective pattern with sub-waves labeled (A), (B), (C)
Wave (3) marked as a prior significant low
Expected wave (5) target aligning with trend channel support
Traders should watch for confirmation signals before positioning, as price action around support levels may influence the next move.
Follow this account for more elliott wave analysis of charts
Key observations:
A completed corrective pattern with sub-waves labeled (A), (B), (C)
Wave (3) marked as a prior significant low
Expected wave (5) target aligning with trend channel support
Traders should watch for confirmation signals before positioning, as price action around support levels may influence the next move.
Follow this account for more elliott wave analysis of charts
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.