According to the Gann Fan analysis, Bitcoin is in a bullish trend on the large scale, according to the upward facing fan on the left, but right now is in a bearish correction according to the downward facing fan on the right.
Over the next several days to weeks, we should see another lower low, bouncing off the 4/1 or 8/1 support line, followed by a bull run.
If we see the bull run break through the 2/1 line of the upward facing fan, we can expect the 3rd wave of the elliot wave theory pattern.