Yes it is on a weekly
Yes, everyone looks on a daily
In theory, timeframe is irrelevant.
As the correction wave , we have not seen B.
Therefore giving consensus that BTC will have to dip for another candle (week)
For theory to apply.
Correction Mid Bounce (week) = USD$5000-$5500
As long as correction occurs (weekly time frame) = $3138 Final Bounce before retrenchment.