Hello sporters
I have been doing some calculations to see what regressions we can find after this meteoric rise of SPORTS during these days through the Fibonacci regression formula.
Fibonacci reversals are levels at which the price of a given financial asset is likely to fall in the future. These reversals consist of horizontal lines based on Fibonacci levels, and serve to identify areas of support or resistance that the price will touch before following its original trend.
For SPORTS we have seen a rise ranging from 0'00021 at its lowest point and 0'0017 at its peak at this stage. That gives us a total rise of 0'00149. If we apply the levels of Fibonancci we would be left:
Level 1: 23.6% - 0'00134
Level 2: 38.2% - 0'0011
Level 3: 50% - 0'00095
Level 4: 61.8% - 0.00077
Level 5: 100% - 0'000022
As you can see in the graph level 1 we have already surpassed it, so we can expect a decline to 0'0011 at least.
If we surpass this level we would go down to 0'00095 and so on.
Well my friends, you already knows where to put your buy orders, although this is not a financial advice...
Greetings
