Bitcoin Cash Sub $1000

Bitcoin Cash has finally relented the $1K handle, and we must now consider levels in the $900 handle. Solid red bars on the day candle are foreboding. We are pressing the lower bound of the KRI and do not seem to be even considering the slightest retracement. We have broken support from $950 at the time of this writing and if we cannot regain this level, there is a vacuum zone to the psychological $900 level, then $834, and $800. From above, we must contend with $965 and $970, before regaining footing in the $1K handle. Kovach Momentum Indicators are bearish at all levels which is not encouraging. Elliott Wave analysis suggests we are in a persistent bear cycle for this unfortunate coin.

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