@sweetnss
The Fibonacci Fan in Bitcoin price analysis consists of multiple trend lines drawn from a significant price point using Fibonacci ratios. These lines act as potential support and resistance levels. As the price approaches a Fibonacci fan line, traders observe for reactions. A bounce from a fan line may confirm its significance as a support or resistance area, and a break through it could signal a strong price movement in the direction of the break.
0 reply
0 recast
0 reaction