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Cryptos remain under bearish pressure, however, we may still see some intraday recovery today within sideways price action and corrective wave structures before the downtrend resumes.

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Below we have BCHUSD, where price can be ending a triangle in wave iv, where needed legs: a-b-c-d-e are visible, which means latest drop can ideally be part of a new decline into wave v. That said, a sign that a triangle is completed will be further weakness below the lower triangle line, which will later indicate a five-wave move for a wave v.

BCHUSD, 1h

BCHUSD, 1h