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Fibonacci Retracement
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The Fibonacci sequence is a series of natural numbers where the ratio of a number to its immediate successor is approximately 0.618. Here is an example of a Fibonacci sequence:
0, 1, 1, 2, 3, 5, 8,13, 21, 34, 55, 89, 144, 233 ……. and so on.
0, 1, 1, 2, 3, 5, 8,13, 21, 34, 55, 89, 144, 233 ……. and so on.
In crypto trading, Fibonacci levels serve as powerful support and resistance indicators. Rooted in the renowned Fibonacci number sequence, these levels can provide traders with valuable insights into potential market movements and key price points. Unlike moving averages, Fibonacci retracement levels do not move frequently; they are static, making it easier for traders to determine support and resistance points.