Don't try to deduce too much from the comparison with April - June 2013. Back then the price was pumped by Markus the bot with fake fiat, the real fiat came in after the spike to 260$.
So the deep crash and recovery broke the EW rules, and it's not helpful to compare with the current situation, at least not from the EW perspective, I am still trying from a simpler MACD perspective.
During the summer and autumn of 2013 the only way to "cash out" from MtGox, the leading exchange, was to buy bitcoin, so even the recovery could have been faked. Back then many expected a final drop to ~30$.
The efficient market hypothesis suggests that market 'knows" about manipulation.
If we start talking about manipulations, where would it stop?
EVERYTHING is manipulated, so this becomes a circular argument.
Please, show me something (an asset class) that is not manipulated.