This last high leg ended in 02/09 completed a 3-high wave that was followed by a strong correction move. For 15 days, Bitcoin lost 40% of its value, returning to the level of USDT 2927.00, which had been reached on 08/08.
Considering the current configuration and the lesson left by the motion generated by the BCH, what can we expect for the BTC with the BTG fork?
Firstly, we must recognize that much of the expectation regarding the fork has already been priced. Bitcoin has already risen more than 100% from the lowest USDT 2927.00 reached on 9/15. At the exact moment we wrote this text, the currency is hovering around USDT 6050.00.
Second, the analysis reveals that the BTC is about to complete the third high cycle (wave 5), which will inevitably lead the currency to a strong corrective movement.