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RE: Steemit Crypto Academy Contest / S14W4 - Fibonacci Retracements
Absolutely spot on! Fibonacci retracement levels serve as valuable guides for identifying potential pause or reversal points in price movements.
Whether it's an uptrend or downtrend, having a strategic plan to buy at support levels during retracements in an upward market and sell at retracement resistance levels during a downward market is a sound approach. It's all about navigating those market trends wisely!
I have also participated in the contest, do well to check it out and engage. My post link to the contest.
You're right, Friend. The Fibonacci retracement levels are like helpful signposts that can show us where the price might take a breather or even change direction. Whether the market is going up or down, it's smart to have a plan in place. Buying at support levels during upward retracements and selling at resistance levels during downward retracements can help us navigate those market trends wisely. Thank you for your valuable comment.