Bitcoin completed the corrective wave 2 two weeks ago. Next, the price continued declining. There could be unfolding the initial part of the new impulse. The bearish impulse wave (1) seems to end soon; it is composed of the sub-waves (1)-(2)-(3)-(4)-(5). The first four parts have finished, and the final, fifth, wave is still unfolding. There must have started developing the final leg of wave (5). The price could go down to a level of 29796.51, the previous low marked by wave (3).