W1 : Global picture is showing a "mirror effect" in progress. Last week price action triggered a long black candle (bearish engulfing pattern) which filled the 23.6 % Fibonacci retracement @ 45491 (3850-58354) and reached an intra-week low of 43021 ! After this sharp downside, it was more than likely to see some recovery which took place in pushing up the BTC towards a high, so far of 46875, which globally should still be seen as an "healthy" corrective move in a still a broad bear trend ! In order to neutralise this ongoing bearish price action, in W1, we need to see a move which should break, at least the level of 51362, which is the middle of the bearish engulfing pattern). Watch D1 for clues Have a nice week
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