Here is what I see in XCP.
The past 2 years it has had 5 explosive cycles.
The cycles "pop", go up between 180% and 1400%, and do a full or near full retracement to 1 fib level, sometimes a little between .786 and 1.
The only cycle that saw a retracement deeper than 1 was the first one, which went between 1 and 1.618.
The cycles from start to finish last between 186 days and 270 days.
The average length from the previous cycle hitting the "floor" or completing fib. retracement to 1 to the fib completion or spike is around 90 days.
We've been in the 1 fib level since the beginning of oct, so we can safely say we've spent 37 days and are almost half way through the average length, meaning based off previous action,
we could expect to see bullish movement half-way through or at day 45, within the next 2 weeks.
I would watch out for this, even if you are not buying now, as there is a great opportunity.
I'd set stop losses 10-15% under fib 1 level, and let the trade ride.
Risk:reward is very favorable as it can't really go much more down, but is begging to explode based on past 2-3 years of price action.
The past 2 years it has had 5 explosive cycles.
The cycles "pop", go up between 180% and 1400%, and do a full or near full retracement to 1 fib level, sometimes a little between .786 and 1.
The only cycle that saw a retracement deeper than 1 was the first one, which went between 1 and 1.618.
The cycles from start to finish last between 186 days and 270 days.
The average length from the previous cycle hitting the "floor" or completing fib. retracement to 1 to the fib completion or spike is around 90 days.
We've been in the 1 fib level since the beginning of oct, so we can safely say we've spent 37 days and are almost half way through the average length, meaning based off previous action,
we could expect to see bullish movement half-way through or at day 45, within the next 2 weeks.
I would watch out for this, even if you are not buying now, as there is a great opportunity.
I'd set stop losses 10-15% under fib 1 level, and let the trade ride.
Risk:reward is very favorable as it can't really go much more down, but is begging to explode based on past 2-3 years of price action.