this is the second scenario,
it vibes well with the law of alternation.
this scenario puts btc into a large triangle, into a bigger phase of distribution, before further mark down begins towards our 22k wave 4 algo target.
could take months to play out before we bottom out in the middle of next year.
these things take time, corrective phases that is. look back in history, every major btc correction took a very long time to play out before the next clean bull phase began.