Bitcoin a 5th wave lower before some bullish price action

Looking at the price action it appears that we have yet to put in the 5th impulse wave to the downside to end the correction before we get some relief to the upside. The nature and proportion of this last sell off is yet to be seen; however, the $40000 range appears to be a high probable area. After completing the 3rd we pulled back into the 0.382 extension before rejecting in a WXY correction which has led to the commencement of a likely 5th wave lower.

Please like and follow for Advanced Elliot Wave Analysis!!

Cheers!