I Entered Long on Bitcoin Today
Bitcoin broke a temporary downtrend with an impulse up. With the 1 marked on the fib tool, I drew down to where the impulse started from. Noticing that it retraced without a bar close below the 88 percent retracement effectively, I entered the trade. Luckily, it has not reached the 161.8 percent extension of its golden ratio sequence of the pattern that all assets follow.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.