Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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BTC just loves the Fibonacci ratios.
Use Major swings to draw a Fibonacci retracement for horizontal levels.
This chart has an example of a Fibonacci channel which is drawn in the same way using the same high and low points.
Its obvious btc is still trending up strong and as such most altcoins are having a tough time competing on the ALT/BTC pairs.
We will probably see volatility increase here, make sure only to levvy up in big drops and deleverage in a big range once your leveraged position runs in profit.
Only play with altcoins with a small portion of your btc if any. Understand that all altcoins are a much higher risk then btc for a lot of reasons.