61.8% Bitcoin Fibo Expansion Level

We useFibo expansion areas to estimate where the bitcoin trend movement will reach. There are 2 important Fib expansion areas: 61.8% & 100% Fibo Expansion Areas, these are used for taking profit.

61.8 Bitcoin Trading Fib Expansion Level

61.8 Bitcoin Trading Fib Expansion Level is the most commonly used bitcoin profit taking level when trading using the Fibonacci Expansion Technical Indicator.

To draw Fibo Expansion levels on the cryptocurrency chart we wait until the bitcoin price retracement is complete & the bitcoin price starts to move in the original direction of the Bitcoin trend. Where the bitcoin price retracement reaches is used as chart point 3. Fibo Expansion Technical Indicator is plotted using 3 chart points as shown on the cryptocurrency trading example illustrated below of how to draw the Fib Expansion Technical Indicator Tool.

The Fibonacci expansion example illustrated below shows the 3 Chart Points where the Fibonacci expansion technical indicator is drawn, 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 Fibo Expansion Level is the 61.8 Bitcoin Fibo Expansion Level shown Below Used to Set Take Profit Bitcoin Orders

Fibonacci Expansion Level is the 61.8 Crypto Fibo Expansion Level shown Below Used to Set Take Profit Crypto Orders

Please note where these Fib Expansion levels are plotted - Fibo Expansion levels are plotted above the Fib indicator, these are the chart points where a trader will place the takeprofit orders using these Fibonacci Expansion Levels - 61.8% Fibonacci Expansion Areas.