#DOT/USDT vs #SAND. 👀
- Break to a new all-time high!
- rejection at 1.272 Fibonacci
- find support and consolidate between these Fibonacci’s 0.618, 0.702 and 0.786
Then the next impulse should start!
Key hier is 0.618 febonacci must hold!
Even on BTC, we see similar sat up 😊 the first market movers usually show what to come
For the rest of the market.
#BTC
- Break to a new all-time high!
- rejection at 1.272 Fibonacci
- find support and consolidate between these Fibonacci’s 0.618, 0.702 and 0.786…????
Then the next impulse should start!
As long this long-term pattern is intact everything is #BTD in my eyes. dips are gift
#BTD=BUYTHEDIP!!
All 3 (2013,2017,2021)full #BTC cycles saw a "mid-cycle" correction after testing the 1.618 Fibonacci extension level and all 3 bounce off the 1.272 fib.
#PatienceMan always wins!!
It's literally the only thing you need right now if you believe that the macro top isn't in yet.
Don't get robbed with this market correction instead treat them as black Friday.
always think on the bigger Picture zoom out!!. Corrections are healthy and part of the journey. Up only is a meme
What Are Fibonacci Retracement Levels?
Fibonacci retracements are considered to be hidden levels of support and resistance in the market. They are derived from the Fibonacci sequence of numbers that was discovered by Leonardo of Pisa, a 13th-century Italian mathematician. Fib retracements are internal retracements since they measure a price move that exists within a prior leg. The most common Fibonacci retracement levels include 23.6%, 38.2%, 50%, 61.8%, and 78.6%. Although the 50% level is not an actual Fibonacci-based ratio, it has many important characteristics, and as such, is included as a level within most Fibonacci retracement tools.
it’s important to understand that we need to select two important swing points for plotting all Fibonacci levels. Additionally, the more confluence that you have around a certain price level, the more weight we can put on that particular area as potential support or resistance level.
There are a myriad of technical studies that one can utilize in attempting to find the strongest fib retracement levels. For example, a trader can use Fibonacci retracements in conjunction with other technical analysis tools such as candlestick patterns, pivot points, market profile, or Elliott wave analysis to confirm a high probability reversal zone.
Whatever combination of techniques are utilized, the primary goal in using Fibonacci retracements is to anticipate a potential termination point for a correction. The Fibonacci retracement tool is equally valuable for both shorter-term, and longer-term traders.