Questions tagged [fibonacci retracement]

TaegeukChampionCourage Thu Nov 07 2024 | 6 answers 1297

I'm trying to figure out the optimal timeframe for using Fibonacci retracement. Should I apply it to short-term charts, like daily or hourly, or would it be more effective on longer-term charts, such as weekly or monthly?

amelia_harrison_architect Wed Nov 06 2024 | 7 answers 1424

I'm curious about the strength or effectiveness of Fibonacci retracement. I want to understand how powerful this technical analysis tool really is in predicting market movements.

Riccardo Mon Sep 09 2024 | 6 answers 652

Have you ever wondered if Fibonacci retracement, a popular technical analysis tool used in traditional financial markets, can be effectively applied to the highly volatile world of cryptocurrency trading? Many traders swear by its predictive powers, believing it can help identify potential support and resistance levels for their digital assets. But does it really work? Let's delve into the question and explore the merits and limitations of using Fibonacci retracement in cryptocurrency trading.

SejongWisdom Sat Jun 15 2024 | 5 answers 1211

Could you please elaborate on what would occur if the price of Bitcoin surpasses a Fibonacci retracement level? Would this signify a bullish trend reversal, or could it simply be a temporary surge? Would investors be advised to buy more at this point, or should they exercise caution and wait for further confirmation? Also, how does the Fibonacci retracement factor into technical analysis, and how reliable is it as an indicator of future price movements? Thank you for your insights.