The analyst discusses Bitcoin's recent bounce after dropping to $80,000, assessing whether it's a genuine recovery or a dead cat bounce. Bitcoin dropped to $80,000 on Friday around 7:00 AM, later struggling to surpass the 0.786 Fibonacci level from a higher timeframe analysis. They were initially fighting and bouncing at that level, then fell below it before testing it four times, finally breaking through. The Bitcoin CME futures gap was filled, addressing concerns. There is an Elliot Wave 1-2-3-4-5 pattern that gives the impression of an ABC correction, it looks like a classic Elliot wave. A Fibonacci retracement off the five wave shows a drop to the 0.618, and then the 0.786 levels which indicates its a bearish bounce. The goal is to short at the .618 retracement of the A wave, targeting the trend-based fibonacci extension around 84000. Stop losses should be placed at the recent higher highs