Wave 2 has moved past the 38.2% retrace but is still a valid potential pattern up until 61.8% retrace.
Also 4hour candle is about to close with a double bottom at 8300 from 2 days ago which could send us into impulse wave 3
My TA not advice, do not buy or sell based on this.......
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Some are calling this an EW failure, wave 2 will not be considered a failure until it retraces past starting point on wave 1. More than likely we will begin impulse wave 3 after a bounce of 61.8% mark
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Impulse wave 3 looks imminent.
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BTC will choose a path in 24 hours or less, be patient......
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Another possible scenario is we have not found wave 2 completion yet, and might be found around 7725ish