As far as BTC made new ATH, correction might have ended earlier in wave 4. Is it much smaller than correction in wave 2, but possible. Nevertheless, the size of wave 4 in comparison with wave 2, and relative small volumes in current growth in wave 5 make me think that alternative is likely
Was tracking the growth since sep.19 as impuls, but it ended up with failure. So, main line now is zigzag correction. If correct and we see initial impulse down, this may cause strong correction for ETH vs USD to 800-1400$ in next 2-6 months. This is true only if there is a downward lead-in impulse. Because what is now seen as failure, can be part of ongoing...
BTC made 5 waves down since August 23, if there is any correction for that impuls, that would be great short signal for movement somewhere to 30-31k. Do not think that it will go lower because in whole impulse started from 2019, wave 2 was sharp, guess, wave 4 would be smooth. Perhaps, triangle.
The whole currency market indicates that it has reverced in favour of USD. As an example - GBPUSD within this scenario: ibb.co/P6y6CcL
Think, we will go down with red line. And then there are options.
Rare, but strong continuation pattern - running triangle. Also, ETH vs. BTC shows interesting picture, which is promising for ETH: