Fibonacci Retracements
Levels of support and resistance - this is one of the most important tools in the arsenal of any trader.
Support is a threshold below which price does not want to fall. Think of it as a floor.
Upward price action will typically approach a resistance level and then retrace to a lower level before retesting the resistance level again.
In the 13th century, Leonardo Fibonacci introduced to the world a sequence of numbers, where each successive number is the sum of the two previous ones. The ratio of any number of the sequence to the previous one is approximately equal to 1.618.
There is one more regularity: if any member of the Fibonacci series is divided not by the next number, but by the second number after this one, then we get a ratio close to 0.382.
If we take the third term of the series after the original, the ratio between them will be approximately 0.236.
Based on these dependencies, Fibonacci levels were created, with the help of which it is possible to analyze and predict the dynamics of various financial instruments.
Fibonacci levels allow the trader to determine possible correction targets, as well as strong levels of resistance and support.
The key levels are considered to be 38.2%, 50%, and 61.8% Fibonacci levels. These levels provide the greatest resistance and support for course changes.
Using Fibonacci levels, you can determine not only possible correction targets but also possible targets in case of continuation of the trend - it is 161.8%, 261.8%, and 423.6% Fibonacci levels
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📆WEEKLY CRYPTO NEWS UPDATE: 06 JUN 2019
📌CRYPTO - EVENTS FOR TODAY
🕵️♂️ General Event (CRYPTO) Lisk (LSK) XRP (XRP) - Aeternity (AE) and 3 others
🕵️♂️ EOS (EOS) - UOS Airdrop Ends
🕵️♂️ General Event (CRYPTO) and 2 others - DLT Compass Singapore
🕵️♂️ Insolar (INS) - Bithumb Global Listing
🕵️♂️ OKB (OKB) - OKEx Talks 2019 Tallinn
🌍GLOBAL NEWS & INSIDER INFO🤫
🕵️♂️ Ripple Launches New Office in Zurich to Attract Institutional Buyers for XRP
🕵️♂️ Microsoft announces VeriSol: Ethereum smart contract verification
🕵️♂️ European Central Bank Considers Bitcoin, Ripple, ETH, & BCH the Most Important In Terms of Usage
🕵️♂️ Apple to Unveil ‘CryptoKit’ Cryptographic Developer Package at Upcoming Conference⚡️⚡️
🕵️♂️ Apple Embraces Bitcoin – Adds ฿ Symbol to Its Icon Set
🕵️♂️ Ripple-Backed Startup to Launch Banking App Based on XRP Ledger
🕵️♂️ Justin Sun just squandered another $4.6 million on lunch with Warren Buffett
🕵️♂️ Big Banks Announce Fiat-Pegged ‘XRP Killer’ Crypto For Settlements
🕵️♂️ Oracle of Bitcoin Calls BTC Movement Aggressive, Predicts $10K Price Soon
🕵️♂️ Craig Wright accuses Binance and Tether of funding prostitution and slavery
🕵️♂️ New Bitcoin Improvement Proposal Could Reduce Transaction Bandwidth By 75%
🕵️♂️ Binance Launches Margin Trading, CoinBase Says It Is Considering It
🕵️♂️ The Ripple Effect: XRP Payments Coming to Stores Via Banking Giant, SBI
🕵️♂️ Block.one Launches Social Media App as Facebook Preps Own Coin
🕵️♂️ Tether Stablecoin Now Available on EOS Blockchain
🕵️♂️ A Billionaire Wants to Buy 25 Percent of All Bitcoin Currently Available
🕵️♂️ Coinbase Makes Surprise EOS Listing
🕵️♂️ TRON Reveals New BitTorrent File System
🕵️♂️ Calvin Ayre on Bloomberg: Bitcoin SV will absorb all the other cryptos😮
🕵️♂️ Confirmed: Ripple-Backed Crypto Startup Building XRP-Based Banking App
🕵️♂️ Coinstar Expands to 2,200 Locations After ‘Overwhelming’ Bitcoin Demand
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Viacoin (VIA) is a cryptocurrency. Users are able to generate VIA through the process of mining. Viacoin has a current supply of 23,144,686 VIA.
