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TagsWhat is the Fibonacci strategy in cryptocurrency trading?
Mani DeepDec 17, 2021 · 3 years ago1 answersCan you explain what the Fibonacci strategy is and how it can be applied in cryptocurrency trading?
1 answers
- The Fibonacci strategy in cryptocurrency trading is a technical analysis tool that uses the Fibonacci sequence to identify potential support and resistance levels. Traders draw Fibonacci retracement levels to determine entry and exit points. These levels are believed to act as areas of support or resistance, where the price is likely to reverse. By incorporating the Fibonacci strategy into their trading analysis, traders can gain a better understanding of market trends and make more informed trading decisions.Dec 17, 2021 · 3 years ago
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