On the H4 chart, with high probability, the price is moving in a 4 Elliott wave with flat B sub wave within the correction. Recent drop in price can be identified as the beginning of C sub wave. Expecting further correction to 0.236 - 0.382 Fibo zones.
Well, it is a fourth wave, or was, but not of the same wave degree that you are indicating. You need to show what you think happened before your wave (1), since the bull market started in November 2022, the origin of wave one. As such your third wave is too short to be a good choice. And if you work out all Elliott waves within three, you’ll find out that you’re missing waves.