BitcoinLong
(1D) BTCUSD 3-3-5 FLAT CORRECTION BREAKOUT IMMINENT
We are approaching the end of the 3-3-5 Expanding Flat correction that BTC has been playing out since April 2021. We are currently QUADRUPLE squeezed inside of the 50 DMA, the 78.6% Fib Retracement level, the upper price level of the previous correction (from Dec 2017), and the upper trend channel of Wave C of the current correction, which can build pressure and blast off at any moment. Ideally, I'd like to see Wave 4 (of Wave C) complete and give a little more down side to complete Wave 5 at around 13K. However, the quadruple squeeze dynamic could give us a break out at any moment! Keep your eye on this one, the chance to get BTC at these levels is running out!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.