$BTC has so far got its bounce on the 0.38 Fib at $39,700.....we need to see a pull back and holding at a higher low to see if Wave 4 is complete, so I have added in the small green Fibs to see where this pull back can come to.
A hold at one of these levels and Subwave 2 of Wave 5 will be complete.
The pull back tells us more above an impulse wave then a singular bounce.