$BTC has been in a downtrend that's respected the "Log downtrend line" for the last few months. I believe we are in a Wave 4 ABCDE retracement of a super cycle.
On the weekly, we have just established a higher low and are looking for a lower high still. This lower high will happen at a retest of the "Log downtrend line", where it will temporarily fail and reject.
The rejection will establish a lower high, at which a point a sell off will occur. The sell off will be with declining . This will be an early signal for the end of the months long downtrend. Savvy investors will see the declining selling and the completed pattern we have been tracking for the last few weeks. Large investors will front run Wave E of the ABCDE in preparation for the large bull run.
Due to the front running, Wave E will likely be truncated, either at the 0.618, 0.786, or 0.887 levels. Monthly, weekly, daily will be reset. We will see a daily bull div , and the bull run will start.
Currently, I think we have a contender for a leading diagonal 5 wave, so it would suggest ABC or 5-3-5, but we'll have to wait for more data to confirm.