As I understand it, ML indicated wave 3 was finished since BTC price had dropped to near the Fibonacci level of 61.8% from the start of the wave, i.e., ($19,800-$150)*(1-0.618)=$7,506.  I guess he used $7,700 as close enough, especially since these numbers could be exchange dependent and may not need to be exact anyway. Clearly that's when he decided wave 3 was finished and changed it to witness of the 3 to witness of the 5 and said we are in 4 now.

In one chart version that seems to have been deleted from his Russian TradingView account, wave 2 was shown as the 2013-2015 bear market which was obviously a slow decline. A common EW pattern is that if wave 2 is a slow decline, then wave 4 is a rapid decline, and if wave 2 is rapid then wave 4 is slow.  The latter is the norm in many EW waves, but the former one seems to fit where we are now.   Another chart of his shows that wave 4 ending at $7,709 which is close to $7,563, i.e., 61.8% retracement of $19,800, and he commented that's the end of wave 4 and we go up from there.

As far as I can tell, and as of now, the EW pattern is holding and ML is on track.  The EW pattern could break of course, but ML has stated he's convinced of the uptrend.

He's projecting that we bounce back to $13,000-$15,000 in the short term, but I can't tell why he's saying that's where people who bought on his advice could sell.  Google Translate says "Merge there, because it is not for you."  Either he's being sarcastic and saying people who still don't believe him could sell there and thus miss the $100K run.  Or he's protecting those who bought at the previous "dip" to $10K based on his advice since we're heading down much further before finishing wave 4.