On one random Saturday, on an impulse, I decided to pull up a BTC chart and throw Fibs on it. This is the result. I'd say it's due for a reversal now at the 161% level.
Hi, I'm learning this stuff right now....or in the process of trying to learn this stuff. I applied a fib on my BTCUSD chart too, but I don't come up to 78% mark on mine, it bounces off the 61.8% line in June '19.
DO you have words of wisdom as to why?
@cryptojewman, Go into the settings of the Fib drawing tool and put the 78% level there. That is a daily chart. I am primarily an intraday Futures trader, but happened to look at BTC for some reason out of curiosity. Start on a longer timeframe and work yourself closer for a more granular view.
MynameisTeo
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u use LOG chart? because i have that fib on 2 charts of BTC, and 161% level is at $ 29868 and $30000... something is wrong in ur chart or mine.