BTC - Brainstorming Swing Lows of 12h 20 EMAI was just kicking this around, nothing too deep. But we swing low on the 12h 20 EMA about 2 or 3 times a month this year. The average drop in price on these swings (from previous high to new low) is 19%. But they varied quite a bit more, from low teens to over 30%.
If we applied that average 19% retracement to the current price action, that would take us -almost- exactly to the 62% golden fib, around $34.4k.
