BTC ALTERNATIVE COUNT / SANTA CLAUSE RALLY 🧪🧪🧪
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As previously mentioned, and since we printed a lower low, we have an alternative I always had as backup that can now come into play.
This alternative states that we're still in wave (2) printing an expanded flat that could potentially take us to visit the 25 K highs or maybe below to finish wave (2) and then do the same stuff one more time.
But if we indeed engaged in that scenario, the overall correction would potentially finish at around 15 ~ 13 K rather than 13 ~ 12 K, as shown through the arrows.
One more drawback of this scenario is that we can still go to 16 ~ 15.4 K before completing the leg down so we shouldn't necessarily stop here.
But since we have a common point here between my main and this alternative, which is at least a short term relief, then longing it cautiously can indeed turn into a profitable trade. But be aware that it is extremely risky guys and risk management is key here.
Unless you're a spot long term holder, so DCA your way down till 12 K without caring much about the fluctuations.
We also have the CPI release tomorrow. Following my main count, we should be having a fake pump in wave 2 as seen in the above post, then continue our way down.
Now if releases came really positive, maybe we can witness the Santa Clause rally playing out but I really doubt it.
Let's see, I am still following my main until further notice.This post is based on this twitter thread.