BTCUSD Daily look is showing us a potentially completed five wave rise with current weakness representing the start of a three-wave corrective phase. If that is the case, then a three wave A-B-C decline is in view for the virtual currency that can extend towards the previous wing low of wave 4 at 1850 level.
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It's certainly possible. The current price action of your corrective B wave in BTCUSD from my observation, and also in ETHUSD, does not suggest Impulse or Motive waves of a new uptrend.