When analyzing a chart from the perspective of 'elliott wave', 'pattern' is the most important part of the analysis. So, in this analysis, I carefully observed the pattern that the chart produced. I have observed a (marked as yellow boxes) in the pattern on the chart. I call it a 'tendency', this means that there is a high probability that the pattern following will repeat the preceding pattern. In the first pattern (large yellow box) the price fell to 0.236 value of previous impulse wave. And, in the second pattern (the little yellow box), the price touched the 0.236 value of the previous wave, as like as in the first pattern. It means, rising stage may come in soon. But this rise will not be satisfactory.
As you can see on the chart, I think the bitcoin is moving on the pattern and now it heading towards the 'd' wave. Therefore, the bitcoin price can go up to about $ 9700 and can going back to downtrend after. Of course, the price can breach the downward at the 'd' point, but it seems to require strong buying to be that way. We need to be watched carefully if bitcoin reached at that point.