BTC We are looking at a Wave 2 ABC correction made of a 5-3-5 subwaves. Also a descending triangle has formed and once exhausted will most likely uptrend into a primary wave 3. The C wave trend based Fib has a 1:1 of wave A hitting the $8100 and further support at $8000. The RSI is showing start to exhibit oversold conditions and bullish divergence pattern confirms an imminent reversal. I would wait to the bottom of this wave form at $8000 and enter a long position back to at least the $9000-$9500 marks. Wave failure for this wave form will occur at $7500 and a new count will be required. Confirmation of the beginning of wave 3 and uptrend will be confirmed when the price gets back to $8400-$8500 after hitting the bottom.