Corrective XWY in Bitcoin in play

I expect Bitcoin to finish a XWY move which should bring the crypto currency to a 8000-7000 price level. This area around 7K will then be a very interesting decision point wether we can get another impulsive up leg long term and remain bullish overall or wether we go under the 7K level in which case I don't expect a bigger recovery of the bitcoin price anymore in the longer run. (take a look at my big picture analysis of Bitcoin to understand more).