I love this pattern setup on VCash. Key low is in at 31000 satoshi with the big high set around 294k. A 38.2% down retracement would equate to about 12462. On Bittrex there is a solid buy a little below 12000 that I will place mine on the even 12.
What I like about this setup is the following:
-Nice bull trend
-Last Fall was to 15k satoshi which I like how it was many basis points from the 12.
-The rally from the fall rose to a lower high in at 22.5k a decent level below 31
-The down target from the last failed rally equates to about 11.7k
-This is where the last market came from.
If this order is executed my sell strategy is to sell half near the 200k area of congestion and the other half closer to the 400k area.
