Hi Crypto Millionaires,
Predicting future prices are the most difficult task. I come across a simple tool that can be used to predict the potential retracement and price target. Fibonacci Price and Timing analysis is a leading indicator which so far have predicted the retracement and price target of bitcoin and other crypto assets.
When I read something interesting and useful, i like to reread again so i make a summary so that I can refer again.
Highlights:
Find the high probability setup to minimise loss
a) price cluster- coincidence of 3 or more prices that identify support and resistance
b) symmetry--similarity and equality in the same direction
c) 2 step patterndetermine retracement using ratios: 0.382, 0.5, 0.618, 0.786, 0.236
determine extensions using ratios of 1.272, 1.618, 2.618
determine projections using 1.00, 1.618, 2.618
The videos below explain some examples how to determine the above:
Thank you
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