A weekly closing price above $8,000 will be decisive, because then the bearish version should be off the table.
In this case, the purple ABC will fall off the chart and the Bitcoin should be in the long awaited wave (1) of the circled blue 3.
This has the potential to catapult the Bitcoin to new ATH. But the probability increases only if the $8,000 are also achieved.
Greeting
Stefan Bode