According to Ralph Nelson Elliott's "Elliott Wave Theory" a market cycle has a Motion Wave (5 impulse waves up) followed by the correction ( ABC wave). According to this count BTC had its 5 impulse waves and is going for the correction phase now, what would mean 20K is the all time high. We could see a B wave up from here but to reach new all time highs we would need an extended fifth wave? Don't hesitate to give your opinion!
Note
We arrived at the decision point. Was the 2019 bull-rally a failed extended fifth wave and will this indeed be the inflection point to continue the supercycle's ABC correction? 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.