8.7k Incoming. Thank me Later Bitcoin / US Dollar Perpetual Inverse Swap Contract BITMEX:XBTUSD Prithvip When we look at the decline from the triangle it is looking like a 5 wave decline with the 3rd wave being the longest which brought us down hard and i think we are currently completing our abc up on the 4th wave and have one more leg down for another 5 wave decline which completes our wave 5. This is the primary count and the alternative would be that if we do end up breaking 7688 low on bitmex , that would imply that we are Still in a wave 3 and we go down a bit lower from here and then do an abc to 8.7k to complete wave 4 and decline for wave 5. Currently im looking to take the position i have posted on the chart. i would long in the green box. MACD shows bearish momentum which lines up with our idea that we may go tap 7.9k and get the ideal 0.786 pullback.