We are now most likely either entering a new wave up, which is likely to way exceed the $20k peak or we are performing a pull back before another impulse down. Either way, in the short term I am expecting a pull back. We may go up to 10k is this wave, but I doubt it. 1 Day is well over bought. We have reached the 0.236 retracement of the impulse wave down from 20k to 3k.
If we are in a new wave up, history has shown that this early wave typically has a strong pull back, accompanied with 1D hitting around 30. The Fib retracement would likely go to around 0.5/0.382 of this wave from 3k, which depending on timing would coincide with the lower diagonal support at around 5k.
I wouldn't be shorting this but I will be looking to buy in if the retrace occurs and I see the support holds.
To buy in I am looking for a clear signal that the wave v has completed and for that I would need to see a more significant pull back to support at around 5-6k and a 0.5 - 0.618 correction of this wave sequence up. This should also reset the over bought signals on the 1D RSI, lining up nicely for a big bounce and a large wave 3.
It may not come and we could keep going up from here, but that's not something I will buy into at this stage.