WOW I just can't believe my eyes!
This is the shape of life basically. Fibonacci. It is everywhere. In fruits growing. plants. crystals. its the mathematical equation to basically everything.
It represents the highs and lows and retracements as far as crypto currency is concerned.
Let me go a bit more into detail. Let's look at VERGE (XVG) for the first example.
The Fibonacci is a tool you can use on the grid of any coin that is trending up or down, to gain a profit;) .
How this works. you select the tool , and find the most recent trend. For this example we take the low of about 110 SAT value. or 0.00000110 bTC.
The high for the up trend is about 170 SAT. or 0.00000170 BTC.
This doesnt seem like much at right .. But if you purchased .25 BTC roughly 1000$ CAD at the time, ($4000BTC/price example) then you would have taken a return of about 0.384 BTC . minus off the initial .25 and your left with .134BTC x $4000CAD = $536 CAD profit. Not bad for flipping a few numbers.
But how does fibonacci line up with this? Well , if you missed that rise, using this methd you can figure out where to safely place the next buy to secure a profit again. thee FIB lines show the retracement of roughly 30% 50% and 62%.
so lets take a closer look, if we selected the low and high , right after it topped out. we could have found exactly the right places to buy, for the next few days rise, that way we can benefit a greater profit than buying at the top value.
Let's look below
WOW! You can clearly see it quickly bounced to the 30% line, then flatlined at the 50% and shuffled its way down passed the 62% mark. If you use this method and are a strong believer. you had your buy set around here waiting for retraction back up for maximum profit:)
Check this method out on many other upward or downward trends in the past to see its accuracy:)