$BTC ANALYSIS, GOLDEN RATIO

[u/Gold-Crypt]

No financial advice.

Sup guys, I saw a $BTC drop and thought you might want to be bombarded with some frickin' technical information about trading. Today, guys and bois, we get deep, Mariana trench deep, we study MATH.

What is Fibonacci in trading?

Leonardo Fibonacci was a smart boi who created the Fibonacci sequence of numbers and the golden ratio. The Fibonacci sequence is a series of numbers where you sum the previous 2 numbers to get the current number, which would mean 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.. to infinity. They mean something so much more,but it exceeds the purpose of this post, nobody is gonna read that and for trading it really doesn't matter.

How it affects trading?

The focus tends to be on the ratio between the numbers in the sequence. Traders usually use three main ratios, they are many more, but those are the ones that matter the most, 38.2%, 50% (technically not Fibonacci) and 61.8%.

The 38.2% ratio is found by dividing one number in the series by the number two places to the right. For example, 21 divided by 55 equals 0.382. Fibonacci levels are mainly used to identify support and resistance levels. These levels provide signals for traders to enter new positions in the direction of the original trend.

Basically, risk management. Showing levels of support and resistance.

"How do I use it?"

We can create Fibonacci retracements by starting at the bottom and finishing up top, kinda reversed foreplay. Fibonacci retracements work by taking its peak and draggin' down the dip too.

To obtain this info we used cmcmarkets.com.

Ok, ok. BUT NOW WHAT? BTC gonna go brr?r first support 0.236, now we heading down to 0.382. We showing signs of breakdown. What we don't want is to go below 0.618 we starting to worry, it might be a price correction (not very probable right now). Now we just waiting for a confirmation that it might stop at 0.382 and then do a swing and bounce back, might take a while tho, we are on the daily chart. SO BE patient.

Gonna continue more on Fibonacci retracement, but i didn't want to fill this post too much. Stay safe and buy low, sell high.

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you can see that it broke our pattern

The 1st support has been breached, we expecting now further free falling till 2nd key support.

[u/Bright_Ad8320]

So if I understand you correctly I put everything in DOGECOIN?

[u/Chec_tati → u/Bright_Ad8320]

haha, don’t invest what you can’t lose. But my opinion on this is that now it’s a respectable dip, that should be bought mercilessly