In my view, btcusd is constantly ascending within the (green) inner channel of the pitchfork.
If that is true, a 38% correction to the trendline seperating the two lower quartils of the pitchfork would be appropriate (3800 $).
Note that the wave designated (big) 3 has exactly the same length of (smaller) 1', which has ended 4 days ago. Given the explosive move of btcusd, I don't think that wave (big) 5 is finished yet. It would be more appropriate if we only have finished (smaller) 1' of this big 5 four days ago. If big 3/1 = 5/3, target for big 5 would be about 10.000$.
Anyway, if big 5 was actually finished 4 days ago, price would be expected to fall to the lowest trendline of the pitchfork to make a 38% correction at about 3400 $.
If that is true, a 38% correction to the trendline seperating the two lower quartils of the pitchfork would be appropriate (3800 $).
Note that the wave designated (big) 3 has exactly the same length of (smaller) 1', which has ended 4 days ago. Given the explosive move of btcusd, I don't think that wave (big) 5 is finished yet. It would be more appropriate if we only have finished (smaller) 1' of this big 5 four days ago. If big 3/1 = 5/3, target for big 5 would be about 10.000$.
Anyway, if big 5 was actually finished 4 days ago, price would be expected to fall to the lowest trendline of the pitchfork to make a 38% correction at about 3400 $.