Dash and Bitcoin Cash Elliott Wave Cycles Point More Downside

DSHUSD remains nicely bearish as expected after we noticed a completed bearish triangle in wave B on a daily chart. Well, now that is accelerating even lower, seems like a higher degree wave C is in progress, which should be completed by a five-wave bearish cycle. So, be aware of more weakness in the 4-hour chart, ideally towards June lows and 90-60 support zone before bulls show up again, but after current pullback in wave 4 that can also form a triangle pattern. Invalidation level remains at 165.

Dash 4h Elliott Wave Analysis


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BCHUSD is coming even lower in the 4-hour chart after we mentioned and highlighted about a completed bearish triangle in wave (B). So, with current sharp and impulsive break below July lows, seems like wave (C) is already in progress with room down to 300-200 support area that can be reached within a five-wave cycle. Current recovery still looks to be wave 4 correction, which can be already completed or still in progress as a bearish triangle formation, however, in both cases be aware of a continuation lower for wave 5 of (C), while the price is below 540 invalidation level.

Bitcoin Cash 4h Elliott Wave Analysis

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