Analysing BTC on the hourly chart, I see high chances on the possibility of a Flat 3-3-5 Correction, not a deep one but important to take into account to place positions on our daily trading.
Still not clear to me which type of Flat correction will appear but I am betting for a REGULAR one.
- First leg (A) of the 3-3-5 is already formed
- 2nd leg (B) of the 3-3-5 is under construction now and, in order to accomplish with a Flat type correction, B should reach at least the 61.8% of the "price travel" of wave A, which is 39570$
- Depending on the extension of B, ie. how high it would rise, we could classify better the type of Flat Correction, however, as I said, my bet is for a REGULAR one.
- The deployment time of Wave B cannot be the shortest, so, since Wave A lasted around 25 hours, I expect that Wave B will be less.
- 3rd Leg (C) of the 3-3-5 should be very reactive and deployed in less time than Wave B
Of course, this plan has to be monitored and tuned depending on the nature of Wave B since, it may evolve in a NON-REGULAR FLAT either Strong or weak, with different outputs each one.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
