BTCUSD Previous Analysis Update - Price Action - Weekly Chart

Just want to update my previous analysis on a weekly chart this time. Weekly bar formed at 29.01.2018 which made a movement from $ 11,8 k down to $ 8 k could not be beaten by the following retracement weekly bars. By midnight tonight if price manages to close below $ 8 k level we will most probably be heading to $ 5,6 in the first place.

Comment:

Still expecting reversal of this final correction at around $ 9,5 k at most and then continuum of downtrend as we mentioned earlier.