Taking a look at previous corrections in relation to 200 slow moving average price, gives us one way to look for target prices, should bitcoin ever stop making daily ATH's ever again. ;)
As you can see price is currently about 2.5x 200 SMA. BTC has historically gone upwards of 4-5x 200 SMA (before a major blowoff), so there's no guarantee a correction is imminent, however, if there is one, you want to be ready to buy. But at what price? Based on the data presented here, prices would between $4500-$5200 would be within the range of typical, yet significant pullbacks - all relative to 200 SMA.
As you can see price is currently about 2.5x 200 SMA. BTC has historically gone upwards of 4-5x 200 SMA (before a major blowoff), so there's no guarantee a correction is imminent, however, if there is one, you want to be ready to buy. But at what price? Based on the data presented here, prices would between $4500-$5200 would be within the range of typical, yet significant pullbacks - all relative to 200 SMA.
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