Bitcoin Cash

Elite

Bitcoin

Jesus

<p><a href="https://captainaltcoin.com/bitcoin-cash-bch-price-prediction/" target="_blank">Bitcoin Cash (BCH)</a> has had a strong week, gaining 80% this week and 20% today alone to trade around $484 at press time. This comes along with a broader market rally this week in which Bitcoin itself gained 20%. Historically we know that Bitcoin Cash tends to “follow” Bitcoin’s price movements.</p> 
<p>One of the most popular traders on TradingView, AlanSantana with over 130k followers, <a href="https://www.tradingview.com/chart/BCHUSDT/D7X0yvS9-Bitcoin-Cash-To-4-300-But-Let-s-Start-From-The-Beginning/" target="_blank" rel="nofollow">gave</a> his bullish take on where Bitcoin Cash is headed next. As he put it:</p> 
<p><em>“I swear to Jesus that I totally forgot about Bitcoin Cash in the past few months… No, I didn’t. It’s been 245 days since the June 2023 price peak; and just like that, we are up to the next target in a matter of days. Let’s go straight to the point. Current action is wave three and this wave is aiming at $875 or $1,052 as its peak. Then a retrace, wave four, and then the bull-market bull-run pushing prices toward $2,613 and most likely $4,174.”</em></p> 
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<p>Alan is using Elliott Wave analysis here to predict further upside. He believes the <strong>current move is wave three which could peak around $875</strong>, aligned with the 0.618 Fibonacci extension level on the chart. After a pullback in wave four, he expects a massive wave five up to $4,174, in line with the 2.618 Fibonacci extension.</p>  
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<p>While Elliott Wave is a popular and often effective form of technical analysis, it does rely on patterns playing out based on waves that were defined decades ago. As Alan acknowledges: <em>“The earth doesn’t vibrate as it did a century ago, instead of five waves we can see eight waves.”</em> So while he expects significant further gains,<strong> the exact peak is hard to predict.</strong> His rough estimate is around $4,300 for Bitcoin Cash’s bull market blow-off top.</p> 
<p>In conclusion, respected analysts like Alan are calling for much more upside in Bitcoin Cash, likely at least a double from the current price. However, technical analysis remains an imperfect science, so targets and timelines should be taken as informed guesswork rather than guarantees. One thing is clear though – Bitcoin Cash’s volatility is back with a vengeance!</p> 
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<p>The post <a href="https://captainaltcoin.com/elite-trader-predicts-more-upside-for-bitcoin-cash-bch-but/">Elite Trader Predicts More Upside for Bitcoin Cash (BCH), But…</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Elite Trader Predicts More Upside for Bitcoin Cash (BCH), But…

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