B and C completed, possibly a final wave down for the 5W correction.
BTC is retracing to the .382 fibs of each impulse wave and then reaching the blue fibonacci extension target levels at 1,2 and 3. Possibly the final wave could fall short to the 786.
Trade closed: target reached
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Trade came out pretty perfect with a number of nice shorts down to the target level around the monthly S1 pivot. I think we should watch this level, but I wouldn't want to enter any trades here. However, a 12hr chart shows a bullish engulfing and the daily looks like a green doji. I'd like to be a buyer below 8k however I suggest waiting for a consolidation pattern to see If we can find more fractals of previous reversals.