I don't base my strategy on Elliott theory i use it only
rarely for help. When we look at 4h interval we can see a bullish triangle before the potentially breakout i think its possible that the price would for one time tounch the hypotenuse of the triangle.
then after the market breaks the resistence line and go back whith forming high 1 or high 2 signal after...
I opened my first short after the price return to 4360 after the price broke the yellow trend line now I think it will be reasonable to increase my position size after the price will return and touch the blue trend line or the price will break down the small yellow symmetrical triangle.
the price should reach 3800- 3900$ by finishing the ABC correction (i based it...
We can see a really strong trend on BTC also trading against the trend is very riskful so I will wait for channel breakout and a bearish reversal bar.
Then probably the price will reach with an ABC (2 part) correction price zone 3928 (38.2% fib abolition, 4 Elliott wave end). The other zones are much more doubtful.