According to this analysis, the BTC is in a corrective phase.
The correction pattern is a large zigzag that is shown with A,B,C waves.
The C wave consists of 5 Elliot waves, which waves 1, 2, 3 and 4 are formed and it will have the 5th wave.
I guess Wave 5 (of the wave C) will end with hitting the drawn channel by wave 1 and 2 and 3.
At the end of the wave C in the areas marked on the chart,zigzag pattern is completed and we may have a new trend,(ACCENDING TREND) that is wave 5 of elliot waves.
IF NOT : if the BTC break this channel We will most likely have a downtrend instead of a correction(zigzag). if it's happen the price will go down deeply!!!!