Yes, I can see that as a possibility with us already having done a 1,2,3,4,5 Wave up then potential A,B, with elongated C down to low to mid $5,000's. That would take me totally by surprise but certainly possible.
Here's the thing that bothers me. Many of Bitcoin's long term bottoms had deep high volume selloffs before reversal. "V bottoms" would be one way to describe them.
I think that would call for going much deeper than the $7100s. Don't you?