I haven’t seen this scenario anywhere else. Nobody is calling for BTC to remain irrelevant for the next 3–4 years, just chopping and grinding to the upside while giving a bit of space for other sectors to catch up, as institutions heavily accumulate — similar to what they did with gold after the ETF, they held the price in a neutral range at highs for years without the 70–80% corrections we used to see when exchanges held most of the supply and it was easier to manipulate.

Now that the supply is being distributed among more players, it’s harder to manipulate, and the four-year cycle lows are no longer true lows, but rather retests them as higher lows.
Why I think this scenario is quite likely is because it would throw everyone off script — both bulls and bears, especially the extreme ones calling for delusional targets. Not 30k, but not 200k either. The head & shoulders at 104–108k could play out into the four-year cycle lows, just to give some PTSD to bears, and from there it could print an ATH between 150–170k a C wave of this big ABC — followed by a final year correction before breaking out, going past 200k and straight toward 500k and beyond.
By the way, I’m not an EW expert.