100.0% BTCUSD Trading Fib Extension Level
We useFibo expansion areas to estimate where the bitcoin trend movement will reach. There are 2 important Fibonacci expansion areas: 61.8% and 100.0% Fibo Extension Levels, these are used for taking profit.
100.0 Bitcoin Trading Fib Extension Level
100.0 Bitcoin Fibonacci Extension Level is not commonly used to set bitcoin profit taking orders when trading using the Fibonacci Extension Technical Indicator.
Most bitcoin traders will use the 61.8% Fibonacci Extension level.
To draw Fibo Extension levels on the cryptocurrency chart we wait until the bitcoin price retracement is complete & the bitcoin price starts to move in the original direction of the Bitcoin trend. Where the bitcoin price retracement reaches is used as chart point 3. Fibo Extension Technical Indicator is plotted using 3 chart points as shown on the trading example illustrated below of how to draw the Fibo Extension Technical Indicator Tool.
The Fibonacci expansion example illustrated below shows the 3 Chart Points where the Fibonacci expansion technical indicator is drawn, marked as Chart point 1, Chart point 2 & Chart point 3.
Chart point 1 is where the bitcoin trend started, Chart point 2 is where the bitcoin trend pulled back & retraced & Chart point 3 is where the cryptocurrency retracement reached as shown on the Fibonacci Extension Technical Indicator Tool example illustrated below.
The First Fibonacci Extension Level is the 61.8% Bitcoin Fibonacci Extension Level & the second is 100.0 Bitcoin Trading Fib Extension Level shown Below - These Fibonacci Extension Levels are Used by Bitcoin Traders to Set Take Profit Bitcoin Orders
61.8% Crypto Fibonacci Extension and 100.0% Crypto Trading Fib Extension Level Used to Set Take Profit Crypto Orders
Please note where these Fibonacci Extension areas are plotted - Fibo Extension levels are plotted above the Fibonacci indicator, these are the chart points where a trader will place the takeprofit orders using these Fibo Extension Levels - 100.0% Fibonacci Extension Level is the second Fibonacci Level.
