Bearish Speculation: Short from here, or from 17600?

I have presented some ideas where this downtrend is interpreted as Elliott's triple zigzag (WXYXZ) (see also links below).

So let's continue the speculation.
If the Z wave of it is now developing, it would have, by definition, a three-wave zigzag structure (WXY as presented, but ABC also possible) comprising 3-3-3 waves.

No wonder this chart begins to decline from here onward, but if BTC shows at least some strength the next week, an ideal double top setup will be complete (bullish scenario excluded from consideration here).

For H & S's right shoulder (or a symmetrical triangle), if FE 1.786-2.000 is the target zone (FVG agrees with it), and if we confirm a smaller double top at around 17600, it would be another ideal setup for the bearish progressive wave (here an impulse, 12345).

This scenario is nothing more than a speculation, but it is theoretically clean and would support my WXYXZ hypothesis.
I have not mentioned Gann Square, but its presence would be self-explanatory (if you hate it, please ignore it. This idea isn't affected by removing it).
Pitchfork is also for reference (based on the hypothetical downward impulse).

Just so you know, I premised the Z wave as WXY, not ABC- because this could, in my opinion, develop into WXYXZ where the actual bottom is below 12500 (possibly 9500-7500?).

Kommentera:

Here, Pitchfork removed for visibility:

Kommentera:

Posted as a new idea. Basically the same except for Pitchfork.