In this analysis we presume three things:
1) We are on Elliott's wave "a".
2) Wave "a" will be overextended and will reach 100% retracement.
3) BTC is forming the head of a SHS
Thus, the SHS gives us the estimate of the final downward movement and Elliott gives us the following waves "b" and "c".
Both observations confluence a decline in the price of BTC back to...
Hiting $52k there is enough sell presure to impulse a correction back to $47k-46k to give enough fresh air to continue the uptrend in search of the next target arround $60k-62k
Assuming we are just passed the corrective A-B-C waves. We are now entering the next 1-2-3-4-5 move.
Further calculation for waves 3, 4 and 5 needs to be made.
Adding to the mix Fibonacci Time Zones, just to spice things up
