Bitcoin doesn't seem like it will break and stay above the 100 MA on the daily chart. This could be a warning sign to another possible downtrend to 5k.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets. DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
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Another possible scenario
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The 2nd scenario could happen. The bull market hasn't started yet. On the weekly, we could expect a break of the 100 MA. This is the adjusted daily chart.