BTCUSD hit the fib 8 level and paused. Why. If you are a trader learn the skills of using the Fibonacci extension tool. As you can see, the tool has been greatly modified where levels have been expanded to show the Fibonacci numbers (1,2,3,5,8,13,21,34,55) "Thank you TraingView for awesome user-modifyable tools!!"
I've placed the high, low, high in blue using the Price Note tool so you have the prices and can draw this fibonacci yourself. Experiment with the tool. It'll be the greatest tool you have in your arsenal to give you an Edge on where reversals have a likelihood of happening.
Observe how Fib 13 on Jun 2022 caught the low, how Fib 6.618 caught the high.
During this aggressive bull run price uses the Fib 13 at 18055 to launch support and rocket to Fib 8 at 23372...Almost to the penny before it paused. Keep an eye at Fib 4.236 another import level. Good luck!!
I've placed the high, low, high in blue using the Price Note tool so you have the prices and can draw this fibonacci yourself. Experiment with the tool. It'll be the greatest tool you have in your arsenal to give you an Edge on where reversals have a likelihood of happening.
Observe how Fib 13 on Jun 2022 caught the low, how Fib 6.618 caught the high.
During this aggressive bull run price uses the Fib 13 at 18055 to launch support and rocket to Fib 8 at 23372...Almost to the penny before it paused. Keep an eye at Fib 4.236 another import level. Good luck!!