It is difficult to include everything in minor update. In two words - we think that BTC keeps bullish context on daily chart, and expect that it should try to challenge 42K top once again. Currently it is unclear yet, whether it becomes rally to 47 or just wash&rinse of the top to grab stops around it. Anyway, conservative target that we have is ~42.2K and it is based on large upside AB-CD pattern on the chart. If shape of the legs changes - we need to re-calculate the target. This is obvious.
We think that recent low is vital point for this short-term setup and price has to stay above it to keep it valid. At the same time, risk now is too large to jump in here. We would like to get the entry at better price. Since currently market shows the clear shape of minor ab-cd action and forms "222" Sell, it seems that it could become the part of downside AB-CD. This pattern, in turn gives us large "222" Buy - just switch on your imagination ;)
This is approximately what we would like to see. the final destination of different AB-CD's could change and this requires re-calculation of the targets, reversal points as the shape could change. But general suggestion is like you see on the chart....
It is needless to say that if BTC drops below vital point - scenario is cancelled.
Pattern itself has failed as market sets the new lows. But it doesn't mean that it can't turn up. We need some time to understand the new price shape as different patterns could be formed, and they also might be bullish.