100.0% BTCUSD Trading Fib Expansion Level
We useFibo expansion areas to estimate where the bitcoin trend movement will reach. There are Two important Fibonacci expansion areas: 61.8% and 100.0% Fibo Expansion Areas, these are used for taking profit.
100.0 Bitcoin Trading Fib Expansion Level
100.0 Bitcoin Trading Fib Expansion Level is not commonly used to set bitcoin profit-taking orders when trading using the Fibo Expansion Technical Indicator.
Most bitcoin traders will use the 61.8% Fibonacci Expansion level.
To draw Fibo Expansion levels on the cryptocurrency chart we wait until the bitcoin price retracement is complete and the bitcoin price starts to move in the original direction of the Bitcoin trend. Where the bitcoin trading price retracement reaches is used as chart point 3. Fibo Expansion Technical Indicator is plotted using 3 chart points as shown on the trading example illustrated below of how to draw the Fibonacci Expansion Technical Indicator Tool.
The Fibonacci expansion example illustrated below shows the 3 Chart Points where the Fibonacci expansion technical indicator is plotted, marked as Chart point 1, Chart point 2 & Chart point 3.
Chart point 1 is where the bitcoin trend started, Chart point 2 is where the bitcoin trend pulled back & retraced & Chart point 3 is where the cryptocurrency retracement reached as shown on the Fibonacci Expansion Technical Indicator Tool example illustrated below.
The First Fibonacci Expansion Level is the 61.8% Bitcoin Trading Fib Expansion Level & the second is 100.0 Bitcoin Trading Fib Expansion Level shown Below - These Fibonacci Expansion Levels are Used by Bitcoin Traders to Set Take Profit Bitcoin Orders
61.8% Crypto Fib Expansion and 100.0% Crypto Trading Fib Expansion Level Used to Set Take Profit Crypto Orders
Please note where these Fibonacci Expansion levels are plotted - Fibo Expansion levels are drawn above the Fibonacci indicator, these are the chart points where a trader will set the takeprofit orders using these Fibonacci Expansion Levels - 100.0% Fibonacci Expansion Level is the second Fibonacci Level.
