Target B at $6k is a reasonable entry point that I think will be revisited regularly in the future if the market goes south and the longterm 5/5800 reversal target C is still a strong possibility with support at $5k but I've adjusted my strategy to buy the crash ( XLM , BTC ) and hit target D:
- Target D: Target is 4640 - 20% drop from 5800. 20% is a pretty typical crash move in BTC history (and now Facebook's ;) and whilst we have seen some fast decline I'm looking for a market shock to buy with expectation this could go even deeper followed by a strong bounce.
FYI, I've been researching historical market crashes (non-crypto). Playing with the idea of a long term target for market low at 2800 - expecting in late spring next year (but expecting a decent rally up to $9k over Christmas).
- Now: $6,0
- Then: $4,7
- A little later $8-9,0
- Then bottom: $2,8
- Then 3x $6k touches through late 2019
Wild ideas, Hard Forky.