Currently, the picture looks bearish as BTC / USD dropped below $ 8,000, which coincides with 61.8 %
Fibo retracement.
Once it is cleared, the next upside targets - 82.80 (100 - SMA on the hourly chart) and 86.00 (61.8 %
Fibo retracement)- will come into focus.
but after reading this, I can surely see
that FIBO retracement will further sharpen the decision making, exact entry point as a second confirmation
Excellent piece on the use of
Fibo Retracements, a tool every trader should know and use.
Not exact matches
Of course this would not be a valid Favourite
Fibo entry, since the
retracement was greater than 50 %.