It usually retraces to prior wave 4 which in this case is $643 or so. However, since the wave 5 was so extended, 63% of the time it portends a very deep retrace to as much as to level of prior wave 2 which is at around $341 or so.
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how come BTC doesnt have huge correction times?
Because BTC corrects frequently. If you don't remember it went from 7800 to 5400 recently that is correction of 2.4k. On top BCH pump was well designed and coordinated, it is well evident that it was money coming from china through bithumb. Remember it went from 350 to 2500 that is insane and in a couple of days. Alot of people fomo'ed and lost money. This will ruin trust with bch, I bet you a lot of people wont fomo now and wont chase it.
Damn! $341 would be brutal for sure...... I guess we will see what happens!
Well, nothing is guaranteed. I have a count where BCH and BTC become phasic (cycles go in phase and sync with each other). IF I get a confirmation, a different price pathway can be discerned.