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