How Do I Read Fibonacci Retracement vs Fibonacci Expansion?

Bitcoin Trade Fibonacci Retracement vs Fibonacci Expansion

Fibonacci retracement is drawn between 2 bitcoin chart points but Fibonacci expansion is plotted using Three bitcoin chart points.

Fibonacci Retracement Technical Indicator example illustrated below - where the bitcoin trend is moving downwards between Cryptocurrency Chart point 1 and Cryptocurrency Chart point 2 - then after Cryptocurrency Chart point 2 the bitcoin trading price retraces then it continues moving up in the original upward cryptocurrency trend. Note that this Fibonacci Retracement Technical Indicator is drawn from Cryptocurrency Chart point 1 to Cryptocurrency Chart point 2 in direction of the cryptocurrency trend.

How Do You Read Fibo Retracement vs Fibonacci Expansion?

BTCUSD Trading Fibonacci Expansion Levels

Fibonacci retracement cryptocurrency indicator is drawn between 2 bitcoin chart points but Fibonacci expansion is plotted using Three bitcoin chart points.

To draw these Fibonacci Expansion levels bitcoin traders will 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 trading price retracement reaches - this point is used as bitcoin chart point 3 for Fibonacci expansion bitcoin technical technical indicator.

The Fibonacci Expansion Indicator example illustrated below shows the 3 bitcoin chart points where the Fibonacci Expansion Indicator is drawn, marked as bitcoin chart points marked 1, 2 and 3. Cryptocurrency Chart point 1 is where the bitcoin trend started, Cryptocurrency Chart point 2 is where the bitcoin trading price pulled back and retraced and Chart point 3 is where the bitcoin price retracement reached as shown on the Fibonacci Expansion Indicator example illustrated below.

Trading Crypto Trade Fibonacci Retracement vs Fibonacci Expansion?

Please note where these Fibonacci expansion levels are drawn - Fibo Expansion levels are plotted above the Fibonacci Expansion Indicator - these are the points where a trader will set bitcoin take profit orders.

How Do I Analyze Fibonacci Retracement vs Fibonacci Expansion