Is Bitcoin Crashing? Should I close my position now?

As we are used to, Bitcoin is a strong emotional rollercoaster. Panic is back because most of the investors and traders were expecting a peak based on past cycles, but there is a rule mentioned by Ralph N. Elliott in his famous principle, called "Alternancy Rule", describing how patterns do not tend to repeat one after the other. And that is what is occurring now, cycles are not identical, but the trend is clearly bullish in the long term, as we can see in this log historical chart. There is a key level at 47000 marked by the long-term lower line of the ascending channel.