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Hello World:
Today I am going to focus on the fibonacci retracement technique in trading Bitcoin.
We used a fibonacci filter to detect retracement lines. These retracement lines can be created when you divide the vertical distance between the high and low points by their respective Fibonacci ratios. These ratios provide key points to determine important levels in an asset, such as Bitcoin.
Horizontal lines are drawn on the trading chart?? at the 23.6%, 38.2% and 61.8% retracement levels. Some traders also like to use the 50.0% ratio.
