Yesterday we had a fantastic trade set-up shared with an almost perfect entry point for the price of bitcoin (BTC). With this trade you could have already earned more than 5% on your money. But apart from boarding, it is of course also very important to know at what times it is best to get in and out when you are busy with day trading in swing trading in crypto and stocks.
Determining Bitcoin entry and exit points with Fibonacci
You can analyze these exit moments with the help of technical analysis. Today I’m going to talk about a specific part of technical analysis: Fibonacci levels. You can use Fibonacci levels to determine where you can exit during a trade and where you can take profits. I will explain how to use the Fibonacci levels in practice. It is a fairly simple tool that you can apply as a beginner in Tradingview, the program that you can use for free when doing technical analysis.
The Fibonacci levels ensure that you get clear levels where you can take profits. The theory behind it is mathematical in nature and has to do with the Fibonacci numbers. If you have nothing to do this weekend, dig in and become a true expert in crypto and stock technical analysis 😉
I myself dived into the world of crypto at the end of 2019 and have also delved more into equities from the beginning of 2020. I have now found my life mission: a financially healthy life for everyone. At my Engels- in Dutch I make videos about crypto and stocks under the name ‘Nesami’ on YouTube channels, using my FUPITA method: fundamental, financial and technical analysis. When it comes to crypto, I follow the latest developments in bitcoin, altcoins and NFTs. Are you curious how I can help you with investing in crypto and stocks? Then take a look at my websiteor start right away invest in yourself!
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