100.0% Fibonacci Projection Bitcoin Trading 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% Fibonacci Projection Areas, these are used for taking profit.
100.0 Bitcoin Trading Fib Projection Level
100.0 Bitcoin Trading Fib Projection Level is not commonly used to set bitcoin profit-taking orders when trading using the Fibo Projection Technical Indicator.
Most bitcoin traders will use the 61.8% Fib Projection level.
To draw Fib Projection 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. Fib Projection Trading Indicator is plotted using Three chart points as shown on the trading example illustrated below of how to draw the Fibonacci Projection 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 illustrated on the Fibonacci Projection Technical Indicator Tool example illustrated below.
The First Fibonacci Projection Level is the 61.80% Bitcoin Trading Fib Projection Level & the second is 100.0 Bitcoin Trading Fib Projection Level shown Below - These Fibonacci Projection Levels are Used by Bitcoin Traders to Set Take Profit Bitcoin Orders
61.8% Crypto Fibo Projection & 100.0% Crypto Trading Fib Projection Level Used to Set Take Profit Crypto Orders
Please note where these Fibonacci Projection areas are drawn - Fib Projection levels are drawn above the Fibo indicator, these are the chart points where a trader will set the takeprofit orders using these Fibonacci Projection Levels - 100.0% Fibonacci Projection Level is the second Fibonacci Level.
