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Fibonacci BTCUSD Crypto Exercises

These exercises will give more examples on retracement & expansion. first exercise is to figure out the direction of the Bitcoin trend & then determine if Fibo indicator used is Fibonacci retracement or expansion & then figure how it is drawn then practice drawing them on a bitcoin chart.

Tasks:

  1. Determine the direction of the Bitcoin trend
  2. Determine if Fibonacci is retracement or extension
  3. Figure out how it's drawn
  4. Practice plotting retracement or expansion on a bitcoin chart.

To locate and access a chart, simply download the MT4 platform from any one of the numerous available cryptocurrency brokers.

On the dropdown menu, navigate to the 'insert' menu at the top left corner of the screen after downloading MT4, and then select either the Fibonacci retracement or expansion option. Then, as covered in the previous courses on Extension and retracement, draw it. Then complete the activities below:

Retracements and Extensions levels Exercise

Exercises 1:

Fibonacci Retracement on Crypto Charts - Fib Extension and Retracement Practice

Exercises 2:

Fibonacci Extension Levels and Fibonacci Retracement Exercise

Exercises 3:

Fibonacci retracement in Bitcoin's crypto downtrend - Fibonacci extensions and retracement practice

Exercises 4:

Fibonacci Trading – Practice with Fibonacci Extension and Retracement Levels

Exercises 5:

Fibonacci Expansion on Crypto Charts - Practice Fib Extensions and Retracements

Hint: point 1 to point 2 follows the bitcoin trend direction

Hint: Fibo Retracement has points 1 and 2

Hint: Fibonacci Extension has point 1, 2 & 3

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