BTC - Everyone is bullish, Be cautious of the 5th wave

We had near vertical hike in price and I admit that it was difficult to match the wave count when I tried earlier (see links). But I feel we are close to the top if not topped out.

I tried to justify with the wave count which is showing that we are in the final 5th subwave (blue) of the 5th wave (white), or this could be the X or B wave (fake rallies/Bull traps) of a correction assuming that we topped out or we may have a truncation where the 5th subwave falls short of the 3rd subwave. Either-way, the safe approach is to wait this out and see what the market is doing, a major correction is long overdue.

"Even if a fifth wave extends, the fifth of the fifth will lack the dynamism that preceded it. During advancing fifth waves, optimism runs extremely high despite a narrowing of breadth"
Section 2.4 from the book - Elliott wave Principles (www.elliottwave.com/...liott-Wave-Principle)

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We appear to be in the 4th subwave correction, it being a triangle or a WXY flat correction

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Definitely on our track

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We bounced hard from the 0.618 Fib retracement blue line . There is a high chance this is a ABC flat correction or ABCDE triangle consolidation. Either way it will be a sideways corrections

Makes sense on the assumption that this is the 4th subwave as per the original idea

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Alternative count with a similar target as the original idea. Here we can see the fib retracements are great with wave 2 at deep correction of 0.786 and wave 4 as a shallow 0.236 fib

Play safe in the 5th wave