Long trade entry would be taken at the 'D' completion of this pattern; at $249.24. There are actually a couple of patterns working together right now. The Bearish Bat
Pattern (link to chart below) appears to be pulling us down into the completion of this Bullish Cypher
. Or, I suppose you could just say that it was fundamentals that sponsored the "unforseable" and sudden drop in price, via yet another btc
market which ran off with user funds (http://goo.gl/rU58EZ
). Whichever you like. Typical targets for the Cypher pattern
are: #1 @ . 382 retracement
of CD; #2 @ . 618 retracement
of the distance CD.