I see that it is ball and burlap stuffed into a pot. B&B mud is really bad news, so I suggest that you first focus on getting rid of it. It will take at least a year. You will need to have enough medium or small bark to fill the pot it is presently in - probably a 1 cu.ft. bag.
First, pop it out of that pot - pick it up by grasping the base of the trunk and tap on the rim of the plastic pot with your other hand. With just a few taps around the tree, the pot should fall right off and likely most of the potting soil around the burlap - save it.
Set the tree on the ground in a place where water will quickly run away and that will be easy to clean away some really dense clay mud - I use my driveway. Then you will lay back the burlap. Then scrape off all the junk on the top of the ball. Maybe a little bit of 'washing' with a water jet from a garden hose. Find the nebari like
@barrosinc is 'commanding' you to do.
Then you should wash and comb away all the dirt/mud on ONE SIDE OF THE TRUNK - what we call Half Bare Root (HBR). Put a layer of bark in the bottom of the pot, deep enough that when you set the tree in, the nebari will be just below the rim. Then, of course, place the tree in the pot, leaving behind the burlap and whatever other mud falls that falls off. Mix the retained garden soil (that was outside the burlap) with a larger amount of bark and fill the empty space in the pot with this mix. And last, but not least, secure the tree to the pot so that it won't move (with respect to the pot) if bumped or pushed by wind. I use lengths of junk sold core wire loosely looped around a branch and passed through a hole I've drilled under the rim of the pot - usually at three points, more or less equally spaced around the pots. It doesn't have to be wire, string, cordage, standard tree ties, etc. can work (I do suggest staying away from jute and the ilk that quickly rots).
You can do this anytime now, once you no longer have any light colored new growth. DO NOT remove any foliage! It is what powers root growth and recovery from the damage that was just wrought.
Meanwhile, tend to your tree's basic needs (water and sun);
study your tree and
think about what you might make of it. If you are in a zone 8 on the west side of the Cascades and get this HBR accomplished by mid-August, you likely will be able to finish the job (moving into your choice of bonsai substrate) next spring 'as buds swell' and could begin styling in Sep/Oct 2019. Otherwise, it might be 2020.
Once upon a time I was very enamored with the idea of a cascade. I've killed a couple in the process. I think it is just about the only thing one can do with the christmas tree Atlas I see in garden center nurseries. But it is a constant war to keep that cascade from becoming an upright stem. I've lost my enthusiasm for this form/style with the one I'm presently growing. Your tree seems to offer many more interesting possibilities, IMHO.
Lastly, if you are just yearning to do 'bonsai things' with this tree, go ahead and postpone the HBR stuff until you are ready. It is your tree.
Enjoy your tree.