#TradingTypes101 #BTC

Key Points Explained :

Fibonacci Retracement:

Identifies potential support/resistance levels (e.g., 23.6%, 38.2%, 61.8%) based on prior price swings. Useful for predicting $BTC pullbacks or breakouts.

RSI (Relative Strength Index):

A momentum oscillator (0-100). Above 70 indicates overbought (potential sell), below 30 oversold (potential buy).

MACD (Moving Average Convergence Divergence):

Tracks momentum via MACD line (12-EMA minus 26-EMA) and signal line (9-EMA of MACD). Bullish when MACD crosses above signal.

Moving Averages:

9, 21 (Short-term): Signal quick trend changes. A 9-EMA crossing above 21-EMA is bullish.

50, 100, 200 (Long-term): Act as dynamic support/resistance.

The 200-MA is a key long-term trend indicator.

Support/Resistance: Support is where $BTC finds buying interest (e.g., $90K),

Resistance where selling occurs (e.g., $100K). Align with MAs or Fibonacci for confirmation.