Using Fibonacci Levels to Predict Price Action

There are two primary ways to use Fibonacci analysis in trading cryptocurrency.  One is to identify or confirm support or resistance levels, and the other is to help identify price targets. Often times, a trader will look at a market and realize that when they were not paying attention, a significant level of support or resistance was broken and the market has already moved significantly. Fibonacci analysis can be very helpful in this situation. These magic numbers used properly are the basis of the Fibonacci retracement levels. Fibonacci retracement levels are calculated by using the ratios obtained through a Fibonacci sequence. In essence these are widely assumed to be better entry points in the direction of the trend, compared to other levels.

Alan Greenwald
Alan holds an MBA in Economics from the University of Pennsylvania. has been trading the Commodities and Futures market for over 15 years. Over the years, he’s established a trading strategy that is designed to steadily provide profits. Traders from across the globe are familiar with his expert mentoring and the achievement level of those learners has been extremely great. Mr. Greenwald is able to help newbies or more experienced traders looking to for an expert’s input in their trading strategy.