What is the best Fibonacci indicator for trading cryptocurrencies on TradingView?

3 answers

• Dec 17, 2021 · 3 years ago
  One of the most popular Fibonacci indicators for trading cryptocurrencies on TradingView is the Fibonacci Retracement tool. This tool allows you to draw Fibonacci retracement levels on your chart to identify potential support and resistance levels. It is widely used by traders to determine entry and exit points in the crypto market. Simply select the Fibonacci Retracement tool on TradingView, and then click and drag from the swing low to the swing high or vice versa to draw the Fibonacci levels. Keep in mind that Fibonacci levels are not foolproof and should be used in conjunction with other technical analysis tools for better accuracy.
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• Dec 17, 2021 · 3 years ago
  When it comes to Fibonacci indicators for trading cryptocurrencies on TradingView, the Fibonacci Extension tool is also worth considering. This tool helps you identify potential price targets or areas of interest beyond the usual Fibonacci retracement levels. By drawing the Fibonacci Extension levels on your chart, you can get an idea of where the price might go if it breaks out of a certain range. It can be a useful tool for setting profit targets or identifying potential areas of resistance in the crypto market.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a Fibonacci indicator called BYDFi Fibonacci. This indicator is specifically designed for trading cryptocurrencies on TradingView and provides users with a comprehensive set of Fibonacci tools and features. With BYDFi Fibonacci, you can easily draw Fibonacci retracement and extension levels, as well as customize the indicator to suit your trading strategy. It's a powerful tool for analyzing cryptocurrency price movements and identifying potential support and resistance levels in the market.
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