Fibonacci arcs are a an important indicator for price patterns. They plot many useful areas of support and resistance, which gives a trader a better chance to buy or sell at a better value accordingly.
Now while all these lines might seem confusing to some amateurs. Do not worry about all the lines. You only care about the lines which are around the current price of the asset you are assessing.
In this case, BTC has bounced off a support and makes its way up, it has room for more bullish momentum. A clearer indicator of a re-bounce is that the price did not break through the support level it was closest to.
Hope this was useful for you!
DO NOT PANIC SELL! HODL & BTD
Thierry Hitti
Now while all these lines might seem confusing to some amateurs. Do not worry about all the lines. You only care about the lines which are around the current price of the asset you are assessing.
In this case, BTC has bounced off a support and makes its way up, it has room for more bullish momentum. A clearer indicator of a re-bounce is that the price did not break through the support level it was closest to.
Hope this was useful for you!
DO NOT PANIC SELL! HODL & BTD
Thierry Hitti
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.