SUMMARY
I'll present the two alternate counts first and then the primary. Overnight, Bitcoin (BTC) price action has put in the full impulse motive of five waves up as shown. This would call for an abc correction as shown in the below chart.
Now, the second ipulse motive (blue) can allow price to reach the top of the blue trend line and likely even another downward wedge as the last harrah attempt by the sellers to kill Bitcoin.
However, note the fractals within the larger fractal. The upward pointing wedges, yellow, blue and the current white. The white arrow shows a potential price pathway. Note also how the depth of decline for each upward pointing wedge declined significantly from teh yellow to the blue and for the white, it'll likely be minimal at best. The MACD could also decline a bit to enable what could be one final dip prior to a sizable breakout. Now, bear in mind that price is quite close to the apex already and the breakout can take place at any time.
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