If green zone holds and price forms higher low here (comparing to previous 9800 low), that would mean local downtrend is most likely over. In case of green zone break price would probably create new low at 9200-8800 zone.
On dayly timeframe we can see trend indicator supported price very well during this bullrun (blue circles). During current correction touch and bounce from trend indicator already happend as well. Whole drop from the highs already reached 44% which is enough for correction. So, probably local low has been set already on 10800 level or will be set at 10600/400.
Now the question is if price is going to complete black line fully or this inversive head and sholders will lead price to break of red zone.
By the way that higher low I mentioned in the beginning of this idea has been set. And now bitcoins correction is over probably.