INTRODUCTION

In the crypto sphere, there are lots of tools, charts and indicators that makes trading to be possible. Honestly, without these tools, indicators, and Charts(candlestick) traders will find it so difficult to do some technical analysis. And we all know that without technical analysis, traders can't forecast the future, price movements, market trends, and support, and resistance.

However, Fibonacci retracement is one of this important tools.

Who was Fibonacci? What were your most important contributions in the field of mathematics?

Fibonacci was recognized as the most gifted middle-age western mathematician. Leonardo Bonacci was another name for him. Guglielmo, an Italian merchant and customs official, gave birth to him in 1170.

He was an Italian from Pisa. He was Jordanus' contemporaries, but he had more well-known accomplishments. Between 1240 and 1250, he passed away. North Africa was where he received his education.

During his travels along the Mediterranean coast, Fibonacci learned about the benefits of the Hindu-Arabic system and met numerous merchants who taught him about their arithmetic methods.

• Contributions in Mathematics

He penned the important "Liber Abaci," which translates to "Book of Calculation." He outlined the benefits of the Hindu-Arabic numeral system over the Roman numeral system in the book he published. Despite the many advantages of his discoveries, the adoption of the Hindu-Arabic numeric system was gradual in Europe due to the ban on Islam at the time.

He is also credited with the introduction of the Fibonacci number sequence to Europe.

He is credited with popularizing a variety of mathematical concepts, including the Arabic numbering system, square root notions, number sequencing, and arithmetic word puzzles.

Describe in depth the golden ration. How is it obtained? N where is it located? Give examples of your application through history.

It's also known as the Divine proportion or the Golden Section. It's a unique number that's roughly equivalent to 1.618, and it comes from the Fibonacci sequence.

Breaking a stick into two sections illustrates the Golden Ratio: if the ratio between the two broken parts is the same as the ratio between the overall stick and the bigger part of the fractured stick, the portions or parts are called the Golden Ratio.

It's found all over the place in nature. It is employed in the fields of mathematics, art, geometry, and architecture. It was given the name Golden ratio by the Greeks.

The golden ratio is calculated using the Fibonacci sequence, which involves adding the two numbers preceding it to get the next number in the sequence. Fibonacci numbers are as follows:

0
1
1
2
3
5
8
13........

In mathematics the golden ratio can be calculated using the formula:

a/b=a+b/a=1.618

Because of its regular appearance and applicability in the field of geometry, great mathematicians such as Hippasus have studied the golden ratio. The golden ratio was revealed to be neither a whole integer nor a fraction, according to Hippasus.

Abu Kamil, another excellent mathematician, employed the golden ratio in his geometric calculations of pentagons and decagons, but he recognized that the ratio was unrelated to the Fibonacci numbers.

Mark Barr, a brilliant mathematician, introduced the Greek symbol phi to denote the Golden ratio in 1910.

The golden ratio (phi) was also characterized as an ideal beauty that can be found throughout history by the main character in a book published by Dan Brown.

Describe how fibonacci is used in tradingview. show screenshot

• first visit trading view website
• click on charts

• click on the arrow above, and then select Fib retracement.

For Bullish
In other to get a retracement for the move I want, I drew a slope from a swing low to a swing high.

For Bearish
For the particular retracement I want, I will draw a slope from a swing high to a swing low for the particular move I want.

Make an investment of at least $ 10. determine fibonacci levels in the currency with which you made the investment, with a timeframe of 4 hours for a period of 48 hours. Identify possible support and resistance levels of the selected currency for a period of 24 hours after the investment is made. Identify possible support and resistance levels of the selected currency for a period of 48 hours after the investment is made. Show screenshots at 24 and 48 hours after the investment made with the fibonacci levels.

It is always ideal to invest on crypto assets when the price of the asset is at support level. And using the Fibonacci retracement I invested 13 USDT to purchase SHIB. Though, there are other coins to invest in but I selected SHIB because I knew its a future coin.

I haven't used the Fibonacci retracement to make a trade decision, but based on this studies, I used it. On the 4h crypto chart, I observed the chart on 12/08/2021, the the price will dropped at the lower point I marked on the 4h chart below and expect it to rise above the high point where I marked. Yesterday been 13th invested on the coin. As seen on the chart below.

Below is the out come of the 4h chart after 24hrs. From the chart, at the point where I labeled B, was a clear opportunity to sell the coin after my prediction works. But didn't sell because I it will rise above that since there is transition of bullish season.

Here is the proof of my investment.

What are fibonacci extensions

They are instruments used by traders to determine where they can profit and how high an asset's price can go when a retracement ends. It can also signal when a price is about to turn around.

How to use it

With the Fibonacci ratio as a guide, you can use this tool. On a chart, this tool is used to choose three points. Percentage lines are drawn.

The first point marks the start of the move, the second point marks the end of the move, and the thirdpoint marks the end of the retracement against the move. If properly implemented, the extensions will assist a trader in predicting the next price. It may be used to any market and any time span.

Conclusion

Fibonacci has etched his name in history. He's most known for his contributions to western mathematics. The Fibonacci sequence, one of his greatest achievements, is used in almost every aspect of life. The financial market, like nature, uses it to keep things in check.

Fibonacci extension is also possible thanks to Fibonacci's contribution. Most traders use this tool because it helps them set price targets and locate regions of support and resistance when the price is changing to a point where they are no longer appropriate.

THANKS FOR READING THROUGH

CC; @imagen