How Do I Interpret Fibonacci Retracement Levels Bitcoin Trading Analysis?

Bitcoin Trade Fibo Retracement Levels Bitcoin Analysis

The Fibonacci retracement levels are explained below: traders should use this Fibonacci Retracement Levels bitcoin indicator to figure out where to open a bitcoin trade whether a buy bitcoin trade in a upwards trend and a sell bitcoin trade in a downward trend.

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Bitcoin Upward Trend Method

In the analysis example illustrated below the btcusd price is moving up between chart point 1 and chart point 2 then after chart point 2 it retraces down to 50.0% Fib retracement level then bitcoin price continues moving up in the original upwards trend. Note that this bitcoin price retracement bitcoin indicator is drawn from point 1 to 2 in the direction of the Bitcoin trend (Upwards Direction).

How to Analyze and Analyze Fibo Retracement Levels Bitcoin Trading Analysis

Bitcoin Analysis of How Do I Use Fibonacci Retracement in an Upward Bitcoin Trend?

Analysis of How Do I Use Fibonacci Retracement in an Up Bitcoin Trend?

Once the bitcoin price hit the 50.0 percentage Fibonacci retracement zone, this Fib retracement area provided a lot of support for the btcusd crypto price, and afterwards the bitcoin market then resumed the original upwards bitcoin trend and continued to move up.

For this trading analysis bitcoin trading example, the btcusd crypto price retracement reached the 50.0 % Fibonacci retracement zone, but most of the time the bitcoin trading market will retrace up to 38.2% Fib retracement zone & hence most of the time bitcoin traders set their buy limit orders at the 38.2% Fib retracement level, & at the same time placing a stop just below 61.8 % Fibonacci retracement zone.

Bitcoin Downwards Trend Method

In the Bitcoin Retracement Strategy cryptocurrency example illustrated below the bitcoin market is moving down between chart point 1 and chart point 2, then after chart point 2 the bitcoin price then retraces up to 38.2% Fib retracement level then it continues moving downward in the original downwards trend. Note that this bitcoin price retracement bitcoin indicator is drawn from bitcoin chart point 1 to bitcoin chart point two in the direction of the Bitcoin trend (Down-wards Direction).

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Bitcoin Analysis of How Do I Use Fibonacci Retracement in a Downward Bitcoin Trend?

Analysis of How Do I Use Fibo Retracement in a Downward Trend?

The above analysis trading example is a bitcoin price retracement trading setup where the bitcoin price retraces immediately after touching the 38.20% Chart Fibonacci Retracement Level.

In this trading analysis example the bitcoin price pull-back of bitcoin price reached 38.20% Fibo retracement level & didn't get to 50.00% Fibo retracement level. It is always good to use 38.2 % Fib retracement zone because most times the bitcoin price retracement doesn't always get to 50.00% Fibo retracement level.

This Bitcoin Retracement provided a lot of resistance for the bitcoin price pull back, this was the best place for a trader to set a sell limit btcusd order as the btcusd market quickly headed down after hitting this Fibonacci retracement level.

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