It's for now more realistic scenario based on Elliot's Waves Theory. However there are more, complicated in nature possibilities (corrections can be more complicated, than those drawed by me). Or 5th waves of lower tiers can be much longer (i think that with so long wave 3rd in 3rd in 3rd in 1st of highest tier, 5th wave should not be so extended, but who knows what market will draw).
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This wave is impressive, but dump after it's end should be painful. Very hard to predict top here, cause Bitcoin in his bullrun have tendency to overextend 3rd waves, who knows if 5th wave can be so overextended in comparison to previous 3rd on the picure below.
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Bigger picture just to show the highest tier counting (highest tier impulsive wave on BTC drawed in pink). As You can see Bitcoin is probably still in his wave 3rd. After this wave should do bigger correction, but shape of this correction should not be similar to correction shape of wave 1st (this is that wave up to around 1200$), and not so deep (38.2Fibo should be good correction), and after that Bitcoin should build his last wave up (11000$ is for me minimum length for this wave, can be of course much longer, but after so long wave 3rd of highest tier it is less probable).