The price continues to move down, but the Bit.Cash chart shows signs that the downward momentum is likely to end soon.
The higher-degree wave structure resembles a rising wedge. Within this five-wave structure, the formation of the wave [iv] is now being completed. As soon as it is formed, the market can begin to grow again.
The analysis of the wave structure on the lower time interval indicates the development of an upward impulse. The price forms the last wave (v). After its completion, the market may move into a correction.
Despite the current downward movement on the Bit.Cash chart, the situation may change soon. The corrective wave is close to completion, which may indicate the possibility of a price reversal.
In the current situation, it is worth paying more attention to long positions.
Bit.Cash H1: Wave Analysis for the European Session on 16.8.2025
