Fib Drawing on Bitcoin Charts Exercises

These exercises will give more examples on trading and drawing Fib retracement levels and Fib expansion levels. The first exercise is to figure out the direction of the Bitcoin price trend and then determine if the Fibonacci tool used is Fibonacci retracement or Fibonacci expansion and then figure how it is drawn then practice drawing them on a Bitcoin Crypto Currency chart using a demo account.

Tasks:Figure out the direction of the Bitcoin price trend

Determine if the Fibonacci is retracement or extension

Figure-out how it is drawn

Practice drawing Fibonacci retracement or Fibonacci expansion on a BTCUSD Bitcoin price chart.

To find BTC/USD charts, download MT5 from any online broker and pick BTCUSD as your financial instrument.

After you've downloaded the MT5 platform, Go to the menu 'Insert' at the top left corner, on the dropdown menu, click Fibonacci & select either the option of Fib Retracement or Fibonacci Expansion. Then draw it as explained in the previous courses of Fibonacci Expansion and Fibonacci Retracement. Then do the following exercises:

Fib Retracement Levels and Fibo Extension Levels Exercise