Which cryptocurrencies are best suited for Fibonacci retracement analysis on TradingView?

3 answers

• Nov 27, 2021 · 3 years ago
  When it comes to Fibonacci retracement analysis on TradingView, there are several cryptocurrencies that are commonly used. Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are among the most popular choices. These cryptocurrencies have a large market cap and high trading volume, making them ideal for technical analysis. Additionally, their price movements often exhibit clear patterns that can be effectively analyzed using Fibonacci retracement levels. Keep in mind that while these cryptocurrencies are well-suited for Fibonacci retracement analysis, it's always important to consider other technical indicators and market factors to make informed trading decisions.
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• Nov 27, 2021 · 3 years ago
  If you're looking to use Fibonacci retracement analysis on TradingView, it's worth considering other cryptocurrencies beyond the well-known ones. Cryptocurrencies like Ripple (XRP), Cardano (ADA), and Polkadot (DOT) have gained popularity in recent years and can also be suitable for this type of analysis. These cryptocurrencies have shown significant price movements and have a growing community of traders who use Fibonacci retracement levels to identify potential support and resistance levels. Remember to conduct thorough research and consider multiple factors before making any trading decisions.
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• Nov 27, 2021 · 3 years ago
  Based on my experience at BYDFi, I've found that cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) are particularly well-suited for Fibonacci retracement analysis on TradingView. These cryptocurrencies have a strong following and are actively traded on the BYDFi platform. Fibonacci retracement levels can often provide valuable insights into potential price reversals and support/resistance levels for these cryptocurrencies. However, it's important to note that Fibonacci retracement analysis should not be the sole basis for making trading decisions. It's always recommended to combine it with other technical indicators and fundamental analysis for a comprehensive view of the market.
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