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So, to go from 10k up to about 64k is a massive bull run and it seems it’s in a major correction currently.
The first stage of the run took it from 10 to 42k in the blink of an eye before it corrected down to 29k. So a 32k bull run corrected to a 19k overall run...with roughly a correction to 60%.
Then, it ran up to 57k and corrected down to 44k. So a 28k run that corrected down to a 15k one -which without having exact numbers- was roughly a correction to 55% of the bull run.
It made the next run to a peak of roughly 64k. A 20k run.
If a trend in the chart is to be expected to continue the current bull run, it would have corrected down to between 50-60% of the last leg.
The fact it’s corrected 100% of the last leg seems to indicate to a novice investor that it’s possibly having a MAJOR correction from the beginning of the whole run from 10k to 64k.
So a healthy correction for that big of a run would be roughly 60% of that 54k run, right?
Meaning it could be in a healthy correction stage right now that could drop the price to 42.5k before resuming its current bull run with a next target of somewhere close to 84k.
That’s some simple data indicating it could be very very advantageous to buy at the current levels if you truly believe in the tech long term...
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