As i wrote in title. Look @ 4h chart. Any bounce from blue rectangle area will be bullish signal and hope for another dynamic wave in BTCUSD. If this area will be broken, let's say we see drop to 3400 or lower on closed 4h candles, than i will say BTC is done for weeks or even months. Even bounce from 3000 will not be for me so attractive as bounce from blue rectangle area. But midterm accumulation will be also possible in 3000-3200 area as it is 38,2% Fibo level of wave from around 200USD to 5000USD.
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So now we see no waves equality, and this correction on BTC should be now longer in time. In optimistic case 3000 will hold, weeks or months in range 3000+ with some spikes above 4000, creating some triangle, and after that decision, bounce up from that formation or going to hell (pessimistic case with possibility to erase 60 to 80% of whole growth to 5000).
China's news was only trigger.