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How Do You Draw Bitcoin Fibonacci Expansion Bitcoin Indicator on Bitcoin Charts?

How Do I Trade Bitcoin and Draw Bitcoin Fibonacci Expansion Bitcoin Indicator on Bitcoin Charts?

How Do I Draw Bitcoin Fibonacci Expansions on Bitcoin Charts?

Traders use Bitcoin Fibonacci Expansion levels bitcoin indicator to estimate where the bitcoin crypto currency trend movement will get to. There are Two important Bitcoin Fibo Expansion areas: 61.80% & 100% Bitcoin Fibo Expansion Areas, these are used for taking profit.

To draw Bitcoin Fibonacci Expansion levels on the cryptocurrency chart we wait until the bitcoin price retracement is complete & the bitcoin price starts to move in the original direction of the Bitcoin trend. Where the bitcoin price retracement reaches is used as cryptocurrency chart point 3. Bitcoin Fibonacci Expansion Bitcoin Indicator is plotted using three cryptocurrency chart points as shown on the cryptocurrency example illustrated below of how to draw the Bitcoin Fibo Expansion Technical IndicatorTool.

The Bitcoin Crypto Currency Fibonacci Expansion cryptocurrency example illustrated below shows the 3 Bitcoin Chart Points where the Bitcoin Fibonacci Expansion bitcoin technical indicator is drawn, labeled as Bitcoin Crypto Currency Chart point 1, Bitcoin Crypto Chart point 2 and BTCUSD Crypto Chart point 3.

BTCUSD Crypto Chart point 1 is where the btcusd crypto trend started, BTCUSD Crypto Chart point 2 is where the btcusd crypto trend pulled back & retraced and Bitcoin Crypto Currency Chart point 3 is where the bitcoin price retracement reached as illustrated on the Bitcoin Fibonacci Expansion Technical Indicator Tool cryptocurrency example illustrated below.

How to Draw Bitcoin Fibonacci Expansion Bitcoin Indicator in Bitcoin Charts

How Do I Bitcoin Trade with Bitcoin Fib Expansion?

Please take note where these Bitcoin Fibo Extension levels are drawn - Bitcoin Fibonacci Expansion levels are drawn above the Fibonacci bitcoin indicator, these are the cryptocurrency chart points where a trader will set the bitcoin take-profits using these Bitcoin Fibo Extension Levels - 61.8% & 100.0% Bitcoin Fibo Expansion Areas.

Drawing Bitcoin Fibonacci Expansions on an Upward Bitcoin Trend

We use Bitcoin Fibonacci Expansion levels to estimate where the bitcoin crypto currency trend movement will get to. There are Two important Bitcoin Fibonacci Expansion areas: 61.80% Bitcoin Fibonacci Expansion Level & 100% Bitcoin Fibonacci Expansion Level, these Bitcoin Fibonacci Expansion Levels are used as bitcoin taking profit areas.

On the Bitcoin Fibonacci Expansion cryptocurrency indicator example illustrated below you can see that the Bitcoin Fibonacci Expansion bitcoin technical indicator tool is plotted along the direction of the bitcoin crypto currency trend, since the bitcoin trend is upward - the Bitcoin Fibonacci Expansion bitcoin indicator is drawn upward.

These Bitcoin Fibo Extension levels are listed as horizontal lines above the Bitcoin Fibonacci Expansion bitcoin technical indicator, showing the profit taking areas. In the cryptocurrency example illustrated below if you had used of 100.00% Bitcoin Fibo Expansion level you would have made nice profit from the bitcoin trade setup.

How Do I Draw Bitcoin Fibonacci Expansion Bitcoin Indicator on Bitcoin Charts?

Drawing Bitcoin Fibo Extension Technical Indicator on an Upwards Bitcoin Trend - Bitcoin Fibo Expansion Tool

From the above Bitcoin Fibonacci Expansion cryptocurrency indicator example, the upwards bitcoin trend continued & both 61.80% & 100.0% Bitcoin Fibonacci Expansion levels were all hit after which bitcoin price retraced again after getting to the 100.0% Bitcoin Fibonacci Expansion level.

Drawing Bitcoin Fib Expansion Areas on a Downwards Bitcoin Trend

Since we use the Bitcoin Fibonacci Expansion bitcoin indicator tool to estimate bitcoin takeprofit areas, how do we draw Bitcoin Fibonacci Expansion in a downwards Bitcoin trend?

We draw the Bitcoin Fibonacci Expansion bitcoin indicator tool from cryptocurrency chart point 1 to cryptocurrency chart point 2 to cryptocurrency chart point 3 as shown on the cryptocurrency example illustrated below. Remember we always draw this Bitcoin Fibonacci Expansion tool in direction of the cryptocurrency trend. In the Bitcoin Fibonacci Expansion cryptocurrency example illustrated below, can you figure out what is the direction which we have drawn it? That's right - downwards direction.

Try & identify the difference between how we have plotted Bitcoin Fibonacci Expansion bitcoin indicator above and how Bitcoin Fibonacci Expansion bitcoin indicator is drawn below. This time you would also have used Bitcoin Fibonacci Expansion level 100.0%, just where the btcusd crypto price reached as illustrated on the cryptocurrency example illustrated below. That would have been a nice bitcoin crypto currency take profit order area.

How Do I Trade Bitcoin and Draw Bitcoin Fibonacci Expansion Bitcoin Indicator on Bitcoin Charts?

Drawing Bitcoin Fibo Extension Technical Indicator on a Downwards Bitcoin Trend - Bitcoin Fibo Expansion Tool

From the Bitcoin Fibonacci Expansion cryptocurrency indicator example above, after plotting this Bitcoin Fibonacci Expansion bitcoin tool there are 2 levels that are used to show the bitcoin profit taking levels, these two Bitcoin Fibonacci Expansion levels are plotted as horizontal lines across the cryptocurrency chart marked as 61.8% Bitcoin Crypto Currency Fib Expansion Level & 100% Bitcoin Fibo Extension Level.

How Do I Trade Bitcoin and Draw Bitcoin Fibonacci Expansion Bitcoin Indicator on Bitcoin Charts

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