BTC Bearish Wave Count: Target 49500

Seeing as the daily close was bearish, I am inclined to think we continue to dump. My target is the 0.786 of the range @ 49500.

In terms of a wave count, the dump to 48000 was obviously impulsive, and this pump we have currently is 3 waves. 3 waves = corrective.

Bearish scenario is invalidated if we break the orange region at 55600 as market structure will break the lower highs. Otherwise, I am bearish.