BTC can be in an ABC correction where C reaches the 5k level, or it started a five wave impulse move that will reach 22k or more. This is the difficulty with Elliot wave theory, corrections and impulses are hard to identify or differentiate. Levels and targets are fuzzy in Elliot wave theories because the impulses can be extended and the correction can be at different levels. Timing is always off or almost non existing in Elliot wave theory. The only timing rule in ET is time symmetry, where the wave times are equal and alternation, where corrections can alter between long but shallow and short but deep.
I favor a major pump, because the latest pump was spectacular and it is hard to think it is part of a corrective structure.