“Fibonacci numbers are the secret law that governs most
things in nature”
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Are basically numbers In a sequence where every number in it is the sum of the two preceding numbers. Such as 1,1,2,3,5,8,13 and so on. They appear everywhere in Nature, from the leaf arrangement in plants, to the pattern of the florets of a flower, the bracts of a pinecone, or the scales of a pineapple.
is a number often encountered when taking the ratios of distances in simple geometric figures. Objects - Living or Non-Living that follow the golden ratio are percieved to be aesthetically pleasing.
Pic Source Google
Fibonacci Retracement is a method of finding out how the price is going to move. It is named so, because the Fibonacci series is used to find out the point at which there will be a reversal/retracement in movement. The Fibonacci Series provides the percentage levels at which the Price Trend Reversal can be expected.
They're the following:
61.8% - The ratio between ANY two consecutive numbers in the Fibonacci Series.
38.2% - The ratio between ANY two alternate numbers in the Fibonacci Series.
23.6% - The ratio between any number and the fourth number to the prior's right in the Fibonacci Series.
50% - Just a halfway mark.
Bitcoin can be traded like any other currency by using chart analysis..
The main difference is that the market is completely unregulated and that volatility is much higher than in most currency pairs..
If you apply proper caution when it comes to leverage, EWT, Fib lines, Channels, Support and Resistance will provide good clues to suitable entries and exit to trade..
Yes,
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The decline of bitcoin price was stopped at 61.8% Fibonacci correction level (for the rise from 1800.00 to 4980.00) and formed solid support at 3033.00, and Bitcoin price after the bearish correction to 3000.00 level, back to the main bullish trend, moved upwards strongly and breaking 3776.00. After the bullish rally, bitcoin started to show some bearish correction after it faced solid resistance at 4075.00 and trying to test 3776.00 level that represents 38.2% Fibonacci correction (for the rise from 1800.00 to 4980.00).
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