Using the Fibonacci circle tool we can plot trend lines along bullish and bearish areas
A trend line can be plotted horizontally against the 1.618 level of the middle circle (green dotted line)
This shows an alignment with a bottom point earlier in the coin and where we are now (green rectangle).
2.618 of left and right circles gives us the position and allows comparison (blue)
It can be then drawn from comparison that price is currently undergoing a similar pattern to the earlier blue circle. Which are the same formations just on different scales (the first being a lot smaller)
The similar pattern being a double bottom.
A trend line can be plotted horizontally against the 1.618 level of the middle circle (green dotted line)
This shows an alignment with a bottom point earlier in the coin and where we are now (green rectangle).
2.618 of left and right circles gives us the position and allows comparison (blue)
It can be then drawn from comparison that price is currently undergoing a similar pattern to the earlier blue circle. Which are the same formations just on different scales (the first being a lot smaller)
The similar pattern being a double bottom.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.