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Fibonaccitrend

Crab Harmonic and Head and ShouldersA bearish Crab Harmonic and a Head and Shoulders. These are actuallythe most reliable chart patterns playing out. Some swing traders seriously considering a double top from Alt-Time-High but before this we have an imponent H&S that became valid from the fulfillment of your pullback to the neckline and really more reliable. So, I'm targeting a reliable level at 14.6% of the Fibonacci retracement. As we can see on this daily chart I'm adding a confluent projection from the prior bearish CRAB Harmonic. This extension of Fibonacci ratio is in fact 1.278 wich is the square root of 1.618 from a AB=CD pattern.
Short
by firmestudio
LINKUSDT The Importance of 0.886 and 0.146 Fibonacci RatiosWhy 14.6% (.146) and 88.6% (.886) are important levels on Fibonacci retracement? The 14.6 Fibonacci ratio, wich has a high mean of assertivity, is mirroned by 88.6, which has become an important entry level and stop loss in the market. 88.6 = 1 - X, X = 14.6. These are hidden levels on the standard scale. But you can add them manually. As you can see on chart, my fave way to use the Fibonacci Retracement is setting the .50 level at the pivot point** that precedes a pullback, i.e. the lowest low of the first downtrend. The price generally tends to retrace at least to the 0.707* level, which is another hidden level. The most common case in the crypto market, according to my experiences, is the price going into the zone between 0.886 and 0.786. In many cases touching 88.6, which can be considered a conservative point for a stop loss. If the price does not retrace from this zone, then a potential trend reversal can be considered. I have considered the range between 88.6 and 78.6 to be a 'short zone', that is, a zone where I usually wait for a reversive price action, or you could say a potential reversal zone. When price follows the trend after retracing then I consider 14.6% as my potential target. Means that tendence continues. This complete zig zag movement is what we call a swing, upward or downward. *0.707 (70.7%) is the square root of 0.5 Fibonacci ratio, wich is a ratio between 1 and 2. **Pivot points (some call them "swing points") are those areas where important short term reversals take place. Okay, let's see what happens during this trade. Thanks for your attention.
Education
by firmestudio
1
BTC rebound possible after yesterday's correctionHello everyone, let's take a look at the BTC to USDT chart on a 1 day timeframe. As you can see, the price is moving in the uptrend channel marked by the blue lines. Let's start by marking the resistance line, as you can see, the first resistance is $ 41,132, if you can break it, the next resistance will be $ 42,705, another resistance at $ 44,120 and $ 45,379. Now let's move on to the designation of the support line and as you can see the first support where the price is currently at is $ 39,244, if the support breaks down, the next one is $ 38,143 and another one at $ 37,003. Looking at the CHOP indicator, we can see that in the 1-day interval, despite yesterday's correction, we have a lot of energy for a new move. On the other hand, the MACD indicator shows that we are still in an uptrend.
by cryptodailyuk
BTC GAINS ENERGY AND BEGINS A GROWING TRENDHello everyone, let's take a look at the BTC to USDT chart on a 1 day time frame. As you can see, the price is moving in the uptrend channel marked by the blue lines. Let's start by determining the line of support with the Trend-Based Fib Extension tool and as you can see the first support in the near future is $ 40,737, if the support breaks down, the next one is $ 39,343 and $ 38,144. Now let's move from the resistance line as you can see the first resistance is $ 42,594, if you can break it the next resistance will be $ 43,832 and $ 45,071. Looking at the CHOP indicator, we can see that in the 1-day interval we are starting to gain more and more energy, and the MACD indicator shows that an upward trend has started.
by cryptodailyuk