Another Beautiful setup here that I am on the case for.
The case begun on May16th when ReddCoin broke out from its four satoshi handle. Before this time I was trying buy at four satoshi and sell at five satoshi while leaving some back and boy did this baby go higher. It managed to rise all the way up to a high of 139 and my Fibonacci calculation of (High/Low) ^Fib% * Low has the following for the down corrections
23.6% Down (73.6% on the way up and used on formula) states 60 satoshi which is current price action and this level was supported already last week with a small rally since and this is telling me a 38.2% correction seems very probable.
38.2% Down (0.618 on formula) states 36 which is where I will place my buy order. If this order gets executed I will look to sell a portion of this at the 60 level and then again north of 100.
Thank you
Derek
