Being that you're evaluating the GUP/BTC pair, could the fact that BTC is in the midst of a strong correction itself explain the extended retracement?
This is the GUP/USD pair for the same interval as your first chart:
And the GUP/USD pair as to your second chart:
There seems to be a stable resistance level around USD $0.47.
BTC has been so volatile during this period. That resistance level measured in USD was 0.00017 BTC 7 months ago. The same resistance level now is 0.00005 BTC.
Is this a factor when you consider the extended retracement?
It has everything to do with nested complexity. BTC is the high order coin, while fiat currencies continue to be the underlying instrument. I think we should expect that Elliot Wave analysis will sometimes fail to demonstrate the patterns we expect in periods of high volatility when our trading pairs consist of a high market cap coin, and a low market cap one.
They will essentially trade flat relative to each other during a correction. Laddering can still be used here to preserve value against the fundamental fiat currencies. This is where @haejin's philosophy works. It softens the blow in a steep correction.