📈On each chart, you can see that the price bounces off the levels.📈
These levels can be different.
Every trader knows about the levels.
And many have heard about Fibonacci levels.
Today we will talk about the strongest Fibonacci levels.
-------0.382, 0.5, 0.618, 0.786-------
There are many levels from which the price can react.
But for me, these are the strongest ones.
These levels are correction levels.
The price will often stop when it reaches them.
This is where the correction begins.
How are these levels useful?
If you keep an eye on these levels and use them, over time you will begin to understand where the price is likely to stop.
If you hold some kind of trade, at these levels you will fix all or part of the profit.
In addition, you can open positions from these levels with a high probability of success.
🗠Chart🗠
On the BTC chart, you can see the working out of the Fibonacci levels.
After the momentum began, the price, after going some distance, began to adjust.
On January 23, 2021, the correction ended, reaching the level of 0.618.
The price increased by 122% in 86 days.
Yes, at that moment it would be difficult to find this point, because to draw the Fibonacci grid, you need to see the entire momentum.
But I just want you to clearly see where the price reacts.
After the price has formed the top, you could see this level.
When the price started a new correction from the top on April 11, 2021, you could plot the Fibonacci grid and see where the end of the correction is possible.
On June 22, 2021, the price reached the level of 0.618 and bounced up by 138% in 142 days.
If you use these levels in trading, then you most likely expected such a rebound and may even have opened a position.
As you may have noticed, the price reaches the level several times and only then reverses.
In addition, these levels do not assume that the price will turn sharply away from them, sometimes the price goes a little further than them.
Consider these levels as zones from which the price can bounce.
On January 23, 2021, the price formed a bottom and turned around the 0.5 level, which is also considered very strong.
As we can see, the price dropped to the 0.5 level several more times before going further.
There are many such examples on different timeframes.
I advise you to also keep an eye on the 0.786 and 0.382 levels.
They are marked on the chart and you can also often observe price reactions from them.
These levels should not be used alone, it is just another indicator that you can use as a confirmation of your opinion.
Do not try to trade on the basis of only Fibonacci levels.
It is better to use several indicators at once, so the accuracy of the input will be much higher.
Practice finding these levels on the chart and over time you will learn how to profitably use Fibonacci levels.
Thanks.
These levels can be different.
Every trader knows about the levels.
And many have heard about Fibonacci levels.
Today we will talk about the strongest Fibonacci levels.
-------0.382, 0.5, 0.618, 0.786-------
There are many levels from which the price can react.
But for me, these are the strongest ones.
These levels are correction levels.
The price will often stop when it reaches them.
This is where the correction begins.
How are these levels useful?
If you keep an eye on these levels and use them, over time you will begin to understand where the price is likely to stop.
If you hold some kind of trade, at these levels you will fix all or part of the profit.
In addition, you can open positions from these levels with a high probability of success.
🗠Chart🗠
On the BTC chart, you can see the working out of the Fibonacci levels.
After the momentum began, the price, after going some distance, began to adjust.
On January 23, 2021, the correction ended, reaching the level of 0.618.
The price increased by 122% in 86 days.
Yes, at that moment it would be difficult to find this point, because to draw the Fibonacci grid, you need to see the entire momentum.
But I just want you to clearly see where the price reacts.
After the price has formed the top, you could see this level.
When the price started a new correction from the top on April 11, 2021, you could plot the Fibonacci grid and see where the end of the correction is possible.
On June 22, 2021, the price reached the level of 0.618 and bounced up by 138% in 142 days.
If you use these levels in trading, then you most likely expected such a rebound and may even have opened a position.
As you may have noticed, the price reaches the level several times and only then reverses.
In addition, these levels do not assume that the price will turn sharply away from them, sometimes the price goes a little further than them.
Consider these levels as zones from which the price can bounce.
On January 23, 2021, the price formed a bottom and turned around the 0.5 level, which is also considered very strong.
As we can see, the price dropped to the 0.5 level several more times before going further.
There are many such examples on different timeframes.
I advise you to also keep an eye on the 0.786 and 0.382 levels.
They are marked on the chart and you can also often observe price reactions from them.
These levels should not be used alone, it is just another indicator that you can use as a confirmation of your opinion.
Do not try to trade on the basis of only Fibonacci levels.
It is better to use several indicators at once, so the accuracy of the input will be much higher.
Practice finding these levels on the chart and over time you will learn how to profitably use Fibonacci levels.
Thanks.
