Reversal possible

After the last leg up from July 2021 to November 2021 which followed the Elliot theory we have had an ABC correction. Which led me to suspect that we will be reversing soon, also the funding rates are very negative across the whole market (negative funding rate = more shorts than long = higher chance of short squeeze).
What are your thoughts? Please share your ideas. Thanks!

(not financial advice) obviously....

don't predict, react instead.