How can Fibonacci extension help predict price levels in the cryptocurrency market?

1 answers

• Okan AtikerDec 07, 2020 · 5 years ago
  Using the Fibonacci extension tool in the cryptocurrency market can be a valuable strategy for predicting price levels. Traders can draw Fibonacci retracement levels from significant price swings and then project the extension levels to identify potential areas of support or resistance. This can help traders make more informed decisions about when to enter or exit trades. However, it's important to note that the Fibonacci extension tool is just one tool among many in technical analysis, and it should be used in conjunction with other indicators and analysis methods. Additionally, it's important to keep in mind that past performance is not always indicative of future results, so traders should always exercise caution and conduct thorough research before making any trading decisions.
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