SUMMARY
Bitcoin (BTC) had 6 down days in a row and so technically, it was due for a bounce and I believe we're seeing it. The below chart updates the subwaves of C wave and if it is to be complete, then price needs to retrake the upper white trend line stat! The vertical nature of the price move looks encouraging.
As an alternate, the below abcde triangle pattern morph could be considered and if so, the whole correction will become more complex. Bitcoin usually has not patterned out complex combinations since its early days of low liquidity.
IF the abc minor correction is complete, this longer term perspective looks bullish because what comes after wave 2? Wave 3 and it won't be lower than 1.
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