Can you tell me how you use Fibonacci? Until now, I haven't thought much of this tool, but in the article a few days ago, I saw you accurately predicted Bitcoin's resistance using Fibonacci. Could you upload that image for me?
GiangBh Crypto
--
Many people ask about technical analysis, so G has listed some basic but effective tools when viewing charts and analyzing them: 💥 Determine the trend Use the 1H, 4H, 1D time frames depending on your objective: • Uptrend: higher highs and higher lows. • Downtrend: lower highs and lower lows. 💥 Support and resistance levels • Support level: where the price often bounces up. • Resistance level: where the price often gets pushed down. • Use horizontal lines to mark. 💥 Essential technical indicators: 1. RSI • <30: Oversold → potential to bounce back. • 70: Overbought → potential for correction. 2. MACD • Determine the crossover point between the MACD line and the Signal line to identify the trend. • Crossover up = buy signal, crossover down = sell signal. 3. Identify some common price patterns: • Double bottom/top • Head and Shoulders • Triangle patterns → Used to measure breakout price targets. 4. Effectively use EMA: a. Determine the trend • Price above EMA → uptrend. • Price below EMA → downtrend. • EMA sloping up → strong trend. • EMA horizontal → sideways. b. Determine entry points • Price touches or breaks EMA13/EMA21 → enter trade according to the trend. • Use EMA13 crossing EMA50: → Crossover up = buy signal. → Crossover down = sell signal. c. Determine dynamic support and resistance • When the price retraces to EMA21/EMA50 and bounces back continuously, that is a reliable support. • You can set a buy limit near EMA (depending on the time frame) to enter the trade. d. Combine EMA with RSI, MACD • EMA determines the trend. • RSI identifies overbought/oversold levels. • MACD determines trend strength & crossover points. 💥 G has attached a detailed table of EMA lines for everyone to easily recognize and use!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.