I placed a buy order at 1007 earlier selling around 1200. It's hard to try and hold for more gains when the general crypto market doesn't look good over the next 12-24 hours and therefore I sold what I had bought before.
Now if this 23.6% correction doesn't hold and we make a lower low than I would expect that low to appear somewhere near and probably lower than the 38.2% level. This comes in at 655 and when looking at this chart and a bias to want to buy cheaper than such I can see that I will look to buy at the May26 lows that co-insides with the early April highs at around 550. It's a decent level of 100 basis points lower than the key point which makes it a little stretch.
I would not be surprised if price action sees the area of 800 and lower that it will come this direction and even a move to the 500-550 level that will spring much higher to around 700+ very quickly sort of like it did from 1000 to 12000 last time.
Derek.
