- Bitcoin Cash avoided expected rejection, confirming Wave 3 impulse start after corrective Waves 1-2 completion on 1H Bybit perps chart.
- Price surged from $510 lows to $612 (+5.7% daily), breaking consolidation with volume support for extended upside.
- Wave 3 targets potentially $670+ as BCH rides crypto rebound, privacy upgrades, and ETF inflows.
The ever-volatile world of cryptocurrency, Bitcoin Cash (BCH) is capturing attention once again. Renowned trader Crypto Tony recently shared an update on X (formerly Twitter), highlighting a promising development in BCH’s price action against the USD. Analyzing a 1-hour perpetual contract chart on Bybit, Tony notes that the expected rejection failed to materialize, paving the way for what he believes is the onset of Wave 3 in Elliott Wave theory.
For those unfamiliar, Elliott Wave theory is a popular technical analysis framework that predicts market cycles through impulsive and corrective waves. An impulse wave typically consists of five sub-waves, with Wave 3 often being the strongest and most extended, driven by increasing momentum and trader participation. In Tony’s chart, marked points (i) through (v) illustrate the completion of prior corrective phases, setting the stage for this bullish impulse.
Elliott Wave Targets and Momentum
The chart depicts BCH’s journey from a dip around $510 to a current trading level near $612, reflecting a 5.7% daily gain. This upward trajectory follows a period of consolidation and minor pullbacks, which Tony interprets as the end of Wave 2—a retracement phase where prices correct before the next leg up. Without the anticipated rejection at key resistance levels, BCH appears poised for acceleration, potentially targeting $670 or higher in the short term.
This analysis aligns with broader market trends in December 2025. Bitcoin Cash, often seen as a faster, cheaper alternative to Bitcoin, has benefited from renewed interest in scalable blockchain solutions. Recent network upgrades emphasizing privacy and DeFi integrations have bolstered adoption, with transaction volumes spiking amid a crypto market rebound. Institutional inflows into spot ETFs and positive regulatory signals from global bodies further fuel optimism.
Trading Risks in Wave 3 Extensions
However, caution remains essential. Crypto markets are notoriously unpredictable, and Wave 3 extensions can sometimes lead to overextensions followed by sharp corrections in Wave 4. Tony’s bio reminds followers that 99% of traders may lose money, underscoring the risks involved. Traders should consider stop-losses and monitor volume indicators to confirm the wave’s validity. Looking ahead, if Wave 3 unfolds as projected, BCH could see parabolic moves, especially if Bitcoin’s halving aftereffects continue to ripple through altcoins. For now, Tony’s update serves as a timely reminder: in crypto, spotting the wave early can make all the difference.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
