Well, I like the approach to look at high and lows to see the pattern. You do this in a price-relation driven analysis, why not. One could also come up with a time-relation driven analysis and I don't know why I have always prefered the latter, but reading your approach of the former is a contrasting and interesting view.

The time relation would come to a realization that after the ATH the low is reached after a year, there is one more year of sideways and then 2 years of bullmarket again. I think there are always psychological and economical relaxation processes at work, which demand time to pass and the relaxation cannot happen just because of immense pain by price readjustments. But showing that the markets decouple already is a good counter point. Interesting to see what will happen.