I don't understand why everyone expects Bitcoin to go back to 5k

It's too bulish for a wave failure. The next correction cannot pass under 20k... So too bad for those who hope to get another chance of buying it cheap.... Myself included...

Also look at the RSI... it still has room to go historically, also there is a double tap of the RSI before a crash....

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My opinion is that we are still in an extended 3rd wave.