Best fibonacci levels to buy at?

[phillza]

What are the best fib levels to buy at? or if there are any resources could you please point them my way.

[Fidemoga]

Fibonacci for trading is nonsense. It is created as formula to calculate grow of animals and plants populations.
Source: https://en.m.wikipedia.org/wiki/Fibonacci_number
But if you think, it will help you, try it out. I studied technical analysis for long time and came to the conclusion, that there is no indicator, with which you could permanently predict upcoming prices with more than 50 percent accuracy.
Better way on cryptocoins is holding on longterm independent from actual movements.

[hitrawal91]

Fibonacci levels are my favourite topic as i have mastered it and using it daily from past 7 yrs. The Fibonacci levels are used in two different ways one is retracement and another is extension. Retracement is used to enter in strong trending swing when the price has made a high and then comes down again for small pullback or dips and then bounce again to a new high. similarly extension is used for predicting the future levels or target . The most important fibonacci levels for retracement  is  38.2%, 50%, 61.8%  and the most important Fibonacci extension levels is 161.8%, 200%, 261.8.

Give most important to 61.8 and 161.8 as they are universal levels and exists in all things in this world. just google it about the golden fibonacci ratio, you will get my point of view. The only thing you want to make sure is that you mark it correctly right form the swing top to swing bottom point.

[phillza]

THanks heaps. Even if the fib doesnt make sense, it will still work because other people use it. Thats technical analysis

[DaMut]

to be honest my friend,
technical analysis will not work if the market is unstable like right now and for a few days later on,
you should understand that Bitcoin is totally different compared to other assets,
technical analysis only work as a map not as your guide,sometimes 'it will work' if the market is normal or sideways.
because when the price is moving slowly,only people with technical analysis playing that game.
but when the movement is quite big or significant,it'll not work.
i used to be a trader that used technical analysis to determine my movement a while ago,but it's not good enough for me.

[gabbie2010]

Fibonacci levels alone cannot be used to determine where to buy  alone there are other tools to be considered like support level, particularly level 50% and 61.8% are two perfect level but works well on price pullback or retracement  consider using higher timeframe like daily timeframe because it is less volatile unlike the lower timeframes.

[phillza]

Ahk cheers I didnt realize the higher time frames would cut out the violatility

[arpon11]

What are the best fib levels to buy at? or if there are any resources could you please point them my way.

In the weak trending market the best level to buy is 61.8% and 38.2% this level most times bring to an end to a bearish trend and create another opportunities to buy at a low or over sold area. But you should not depend on Fibonacci alone! you have to combine it with others indicators in other to get more accuracy in your decisions, because most times, those level can lead to a false breakouts and make you lose money than what you expected. Candlestick formation as a confirmation signal will help you greatly.

[Nerman]

I have been using fibonacci in stocks and it is really effective but in crypto trading it does not work. 38%, 61% 100% are the most common levels that i use but in crypto trading they basically do not respect that level prices just pass through that levels. I am not saying that i am an expert in crypto trading but this one of the thing i have noticed with trading stocks and trading with crypto. Right now my strategy and technical analysis in stocks and crypto are different. But if you just want to study how fibonacci works you can watch it on youtube there are a lot of help videos out thre.

[phillza]

Ahk Ive been using the fib lately and tbh the price will almost always stagnate or bounce at the fib levels

[timikulit]

Crypto has a high price volatility, following Fibonacci levels will not give you a clear entry.

You might get SL Hit because of the big price swings.