Short

Risk Mitigation Post | Possible BTC Top

Updated

This post presents a potential top for BTC Price Action (PA) for your confluence and Risk Mitigation.

I do not care if I am wrong, and invite constructive comments to improve the count and enable everyone a more holistic understanding of BTC PA, rather than destructive comments that do not achieve anything other than show the community the type of person your are.

The primary rationale for this count lies within the retracement on completion of the initial 5-Wave move up on completion of Primary WA.

From my perspective, this retracement exhibited insufficient depth to be counted as a W2.

Reverting to what I call the Elliott Wave Theory paradox, if it is not a W2, it must be a WB.

The targets presented in this chart may overshoot, however, I feel more confident in a new low, than an ATH on this move.

was used to confirm this count.

Trade Safe.

TOTAL Chart:

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suggests two possible tops remaining.

Chart:

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I do not think this is the top. I think there will either be a continuation or a deep retracement, I think they are the only two possibilities. We should not see a shallow retracement, or, reversal.

This count is invalid at the moment, but the Wave Form looks correct (at the moment), I urge caution here. W4 TGTS were not met, this may be a false break out.

Chart:

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If this is a WC of W4. Expect one more move to the downside before a new high.

Chart:

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In terms of flipping Bias, I am almost convinced the Bull Run is here, I will need to confirm with and to Validate.

This count leaves a lot of room for PA to drop and still hit new ATH, but I am no longer fearing reversal, thinking dips are for buying.

This is the BTCAUD chart, suggesting a Bullish outcome.

Chart

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The "big" retracement will tell us everything, I think the Bull Run is here, this run will be like no other, fuelled by extreme greed and euphoria, built on the fraudulent lies of Government Economists prior to the collapse of the Dollar, implosion of Teather, and subsequently the Global Economy.

Chart

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48Hrs ago I had switched bias to Bullish, today I revert back to an alternate Bear Count. It looks and feels more natural. The retracement that comes next will tell us everything. All eyes will be watching what happens at 30k.

Chart:

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JMSBurton

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