I think you are saying that it depends upon what price does in the future. That you can only label the waves once they are formed.
Well you can label waves into the future based on statistics...that's the whole point..which is how you can project ahead months for entry levels versus just buying the dips blindly for instance. Typically you start with the most simple correction and adj from there.
Guys, US president is hosting a gala crypto dinner. This is the end of the party. The top of the top of the top of the bubble.
I think this analysis is spot on. I was also reading about how in Japan, the shorts couldn't exit their positions because right after the market opens, it gets halted, but it was able to trade in Germany and the US where the price is pushed up. Its an absolutely crazy dynamic.