I am quite skeptical of elliot wave at the moment because China does what it wants. Any technical selling pressure from charting whales in the west will be just scoffed at.
IMO we are going to see a run up into 5k+ and when it crashes much of the pressure will be alleviated into altcoins this time rather than into USD so the violent nature of the previous returns to earth will be a lot flatter and take a lot more time.
China is a well orchestrated FUD. If you can't see this, you havent been following the fundamental news (as a trend) from as far back as a year out.
My 2 cents.
This rise seems highly coordinated and perfectly timed. Everything seems right. But in essence, not much has changed about the Bitcoin fundamentals. Sure, we've had some impressive CSVs mining votes,, but still, no soft fork and no hard fork (both necesaary in the medium term).
This, feels to me like a FOMO induced Bull run. Alread, 10 friends (in Kenya) have called me up wanted to buy some. Just because of the hype!
Can't you see? The news, halving, price rise all fit perfectly well. The chart i have posted above was well before this rise. Even a chart i have posted before, pointing to a wave B top anywhere upto $1000 was way before this rise.
I am with RynDicelm on this one. This won't go too high up. I wil be watching for the 'next' event that triggers a sell off.
Of course, as you guys know, i could be wrong. I always add a caveat because the future is largely unknown. So, happy to hear other opinions, and change my mind.
* Sorry, no edits, can't be bothered.