Old Techniques in New Markets
The nascent cryptocurrency markets have already shown themselves to follow technical patterns and rules in the same way as traditional assets do. The fact that the underlying is sometimes difficult to explain doesn't mean that the price behavior needs to be. Through many of the rallies, Fibonacci retracement levels have shown to be excellent opportunities to buy a market dip. Tonight was another example of the market seeming as if the sky was falling only to stop just over $10.00 away from a 50% retracement.
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