My main count is blue, and has been for a very long time now.
The AO (similar indicator to Elliott Wave Oscilattor) indicator gauges the strength of a move, helping one get a feel where the market is inside a wave cycle. Normally, AO makes the highest high at the top of the 3rd of 3rd (also known as the moment of recognition). As we can see in the image, AO has not yet made a bearish divergence with the latest ATH, meaning that the last wave was only the 3rd of 3rd, or even a subwave of the 3rd of 3rd, in case the next ATH makes another extreme in the indicator. At the same time, we can see that $891 bottom had more selling power than the $751 bottom, but made a higher low. This presents a hidden bullish divergence that is usually found during 4th waves, explained by the fact that demand moved higher up, and buy support picked up all the excess selling.
Thus, in case of blue, next ATH top should present more fomo (which is the usual topping sign of a bitcoin 5th wave) but make a divergence in the AO, indicating that the buying power is depleting. Afterwards, an even-longer correction should take place, that will most likely not go below $891, and then it's time for the (5), which could also extend (another amazing feature of bitcoin rallies). All in all, this could take another year, year and a half to finish, in which case I would assume that the bears will be exhausted by the time the trend changes, similar to bulls during the last long-term bearish correction.
The other count on the chart is brown, which I find unlikely for various reasons, but could be accepted as a completed impulse. In this case, my 4 is an A, this current move up is a B and the total correction would be a wave II, and will most likely last for 9-12 months. The guidelines say that the low should still be within the limits of the previous wave 4 of a lower degree, so between $780 and $500.
Happy trading.
