I tried applying Elliot impulse wave to BTC and we have the 5 steps to the top, but the 3 steps down we are still in the first step moving down as there as we haven't really gotten multiple days of green candles moving up yet before moving to the bigger bottom on EMA200 around 40k. If we are really following Elliot impulse wave theory we will have a bounce from 45k up for a few days which might get a lot of nice pumps, but it might go south quite fast and suggest to have trailing stoplosses while your crypto is moving up.