Betting on a continuation of this pattern I have observed. At the 30/50 Day MA cross price seems to be consistently at around 38.2 % (0.382 fib level) of the projected down-swing.
I have a time frame target of 6/Sept/2018. The current mean time period between downswings is sitting at 75 days. I have calculated this using the previous 7 downswings (significant because this was when BTC broke out above it's prior 2013 high of $1100)
I decided to get a jump on the cross and enter a few days ago because price action is looking very bearflaggy.
Entry: $6600, Stop: $7100 (comfortably above the 50 Day MA) and Target: $5000. R/R: 3.2
I have a time frame target of 6/Sept/2018. The current mean time period between downswings is sitting at 75 days. I have calculated this using the previous 7 downswings (significant because this was when BTC broke out above it's prior 2013 high of $1100)
I decided to get a jump on the cross and enter a few days ago because price action is looking very bearflaggy.
Entry: $6600, Stop: $7100 (comfortably above the 50 Day MA) and Target: $5000. R/R: 3.2