There was a time that this could have been a triangle with a thrust up. It is now clear that it is not. This is an irregular B-wave so we are now in the first stages of C down and wave 1 (W1) should be reclassified as wave A. My educated guess is $3.50 at best. An alternative would be a wedge,after an a-b-c irregular flat. Possible but still targets $4.25, see below.
Actually this may just be a little more elegant.