*** Disclaimer***
This is purely technical analysis.
****************************************
Time:
Based on historical bulls and bears of
BTCUSD
, it appears that the major low for long-term corrections is in the range of 364-413 days.
Price:
Price of
BTCUSD
appears to make sense in logarithmic scale. Long-term corrections are to the area of 0.618.
The proceeding bull runs appear to surpass the preceding bull runs' high by 13% log or 41.4% log. As such, in the "Open Trade", the Target is set, conservatively, to 13% log at around 112,000 price point. The Stop is set to around 5,700 with no justification, except that
BTCUSD
has never corrected more than 61.8% historically.
This is purely technical analysis.
****************************************
Time:
Based on historical bulls and bears of
BTCUSD
, it appears that the major low for long-term corrections is in the range of 364-413 days. Price:
Price of
BTCUSD
appears to make sense in logarithmic scale. Long-term corrections are to the area of 0.618. The proceeding bull runs appear to surpass the preceding bull runs' high by 13% log or 41.4% log. As such, in the "Open Trade", the Target is set, conservatively, to 13% log at around 112,000 price point. The Stop is set to around 5,700 with no justification, except that
BTCUSD
has never corrected more than 61.8% historically.