This is just for educational purposes and not a signal.
This Trend-based extension analysis is just to demonstrate why price rejected at $4,955.
You can also see how many time price resisted the 0.382 and the trend line within the Fib tool before the final breakout post-ATH.
You can also see the reaction at 0.618 with the previous day's very aggressive Bullish candle.
This explains how important 0.382, 0.618 & 0.5 fib levels are.
I hope this analysis helps
This Trend-based extension analysis is just to demonstrate why price rejected at $4,955.
You can also see how many time price resisted the 0.382 and the trend line within the Fib tool before the final breakout post-ATH.
You can also see the reaction at 0.618 with the previous day's very aggressive Bullish candle.
This explains how important 0.382, 0.618 & 0.5 fib levels are.
I hope this analysis helps
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.