BITCOIN - PARABOLAS DON'T END WELL... | CORRECTION IMMINENT?

• Bitcoin has been on an insane run to all-time highs in it's 2020 bear market breakout
  
• Given the clear signs the bear market is over due to the extent and strength of the price surge, a correction may be imminent
  
• In Bitcoin's history, parabolas never ended well. Price has far outperformed expectation and parabolic price action signals a deep correction
  
• Elliott wave theory shows that the 5th wave is about to complete from this $4,000-$28,000 run
  
• RSI is at record highs printing 90 on the weekly
  
• Price has diverged vastly from the 200WMA and perhaps needs to make it's way lower
  
• All of the above largely resemble the 2017 parabolic run all the way to $20,000 which is a signal that history could repeat again, but not necessarily nor exactly, which resulted in a 50+% decline
  
• Given all the above, observation of such a deep correction is to happen with targets of $12,000=$16,000
  
• Bear in mind that it's never easy to call tops and bottoms meaning there could be more upside. The key point being the elliott wave price action and the end of the 5th wave as a more official signal