BTC/USD on it's way to 9300$? EW leg C(apitulation) ongoing?

Based on the current price action, I am under the impression 69K was an Elliott Wave cycle top and we created a larger degree wave 1 and we are currently in the corrective wave 2, which could be a very painfull ride down.

Confluence posted in the chart, in addition to the LOG chart, 9300$ is also the 90% retracement area in linear, a well known Fibonacci area for a wave 2 correction to complete.

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The minor W2 turned into a complex and more time consuming correction. My primary view is that we are in W3 of the minor degree ATM.