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BTC today formed a monstrous bearish engulfing and today I share an extended analysis that includes a Long Term Forecast.
The reversal was perfectly caught in one hour after the character of wave changed. This one definitely goes to the Track Record. I rarely use word “must” in my analysis, but yesterday I wrote: “There must be a red day tomorrow.”
Let’s have a look at the candles and the waves. What do they tell us today?
CANDLES
Daily
Today’s Engulfing entirely engulfed 7! previous candles. Quite a message.
It was also smart enough to not close below the BB and not to make a reversal candle.
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REFERENCES:
Previous Monthly and Weekly Analyses:
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