By hitting a new low today $BTC completed a motive wave of the higher degree. I have not seen such classical actionary wave for a while. The subwaves, the Fibonacci levels and the Golden Section are just perfect.
What does it mean? It means one simple thing. As the corrections are never fives, BTC should expect another, possibly much stronger and deeper wave down after a pause.
Today we will discuss the road map for the next move – the duration of the “pause”, targets and timing and, of course, we will touch on the candles and TA.
This weekly overview contains:
– daily and weekly candle charts – analysis of candles and technical events;
– weekly EW chart and a long term forecast;
– detailed hourly EW chart and a short/mid term projection;
– forecast for the next week and beyond.
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