Welcome to Precision Trading, a show dedicated to helping you understand Bitcoin and where all the major crypto currencies are heading, using Technical Analysis.
On today’s show, we explore what happened last week, as Bitcoin dipped back below $50,000 and what we are anticipating next, using the Fibonacci crypto trading strategy.
Fibonacci retracements is a technical analysis tool that is popular with crypto traders in order to predict potential coin prices in the crypto markets. If used correctly, Fibonacci numbers can help traders to identify upcoming support and resistance levels based on past price action.
It’s important to remember that Fibonacci numbers are a confirmation tool. The Fibonacci crypto trading strategy is best used alongside other technical analysis tools such as support and resistance lines, bullish flags, and moving averages. The greater the number of confirming indicators, the stronger the trade signal is likely to be.
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🔵 CoinMarketCap Timestamps:
0:00 Bitcoin Week in Review
1:25 What happens if Bitcoin falls even further?
1:45 How to be prepared using the Fibonacci crypto trading strategy
2:20 Using the Fibonacci Sequence on different trading time frames
3:00 When to buy Bitcoin if day trading?
3:39 How to use the Fibonacci numbers to get into a crypto trade?
4:38 Using the Fibonacci crypto trading strategy to take profits
5:46 Who is J-Sharp?
❗️ Note: The information provided in this video does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the video’s content as such. CoinMarketCap does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
🔵 Coin Market Cap is the world’s most-referenced price-tracking website for cryptoassets in the rapidly growing cryptocurrency space. Its mission is to make crypto accessible all around the world through data and content.
Founded by Brandon Chez in May 2013, CoinMarketCap or CMC has quickly grown to become the most trusted source by users, institutions, and media for comparing thousands of crypto assets and is commonly cited by CNBC, Bloomberg, and other major news outlets.
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