Fibs on fibs
Arb potential bounce zone...
Rejected the 4.618 of previous move..
Beginning of exponential price action..
Now we are retesting the 0.618 of that move
This is known as the main bounce zone during bullish price action
With deeper retraces wicking to the 0.5 or usually in a falling wedge/bull flag
Grinding down to the 0.382 for a more highly manipulated coin, or for slower less impulsive market moves/structures..
Arb potential bounce zone...
Rejected the 4.618 of previous move..
Beginning of exponential price action..
Now we are retesting the 0.618 of that move
This is known as the main bounce zone during bullish price action
With deeper retraces wicking to the 0.5 or usually in a falling wedge/bull flag
Grinding down to the 0.382 for a more highly manipulated coin, or for slower less impulsive market moves/structures..
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.