I'm not an expert in Elliot Wave, though have never heard the term "reverse elliot wave."

if it's going down instead of up, and that is what you mean - it wouldn't be "reverse," but a larger correction.

i.e. if you had thought a correction was nearly complete - possibly because it appeared there was a 3-part downwave - it might only be in the a of an a-b-c correction.

have to keep proportions in mind too. given BTC has had huge upwards momentum the last couple months, it'd be surprising for any correction to be over so soon within a matter of days. a proper correction, proportionately, might be more likely to take weeks.

though again, this is not an expert outlook, just my two cents.