Implications of a new ATH w/o a 4th wave below $26k is that said breakout would be the 3rd wave (can’t be the 5th wave) and t͟h͟e͟ ͟3͟r͟d͟ ͟w͟a͟v͟e͟ ͟i͟s͟ ͟a͟l͟w͟a͟y͟s͟ ͟t͟h͟e͟ ͟l͟o͟n͟g͟e͟s͟t͟. Thus price would be headed north of ~29k + ~62k = ~101k. That would validate PlanB’s expectation and invalidate my expectation from the Fibonacci ellipses and other analyses.
Thus I await the result on the VWAP chart. Will it break higher this week?
Note if my Fib ellipses analysis ends up correct, I must admit that it would be the strangest looking Elliot Wave pattern. A-b-c interludes are allowed, but it’s highly suspect that the b-wave would approach the top of the 1st wave.
Yet the broadening wedge from 2019 – 2020 was strange. It essentially make it impossible for that to be a 1st and 2nd wave w/o a “TERMINAL pattern” thus requiring the 4th wave enter the price range of the 2nd wave. B͟r͟o͟a͟d͟e͟n͟i͟n͟g͟ ͟w͟e͟d͟g͟e͟ ͟f͟r͟a͟c͟t͟a͟l͟ ͟m͟a͟y͟ ͟b͟e͟ ͟r͟e͟p͟e͟a͟t͟i͟n͟g͟.