I forecasted this 9% candle yesterday, due to mean regression. Now, price is currently in a bearish hammer, and hasn't truly reversed so I won't call the long bottom in yet; this could be mean regression. However, due to the bull flag nature of the macro movement, I think it's smart to continue to accumulate in anticipation of when this move does leave the channel. You could wait, and buy the mean, and again the bottom of the channel, @ $55,000 and $52,500, or wait and see if price moves out of the channel and closes with authority.
The regression channel is 2,-2 stddev, so price action beyond 2% outside the channel would lead me to believe it's real.
The regression channel is 2,-2 stddev, so price action beyond 2% outside the channel would lead me to believe it's real.
