61.8% Bitcoin Fibo Projection Level

We useFibonacci Projection levels to estimate where the bitcoin trend movement will reach. There are 2 important Fib Projection levels: 61.8% & 100% Fib Projection Areas, these are used for taking profit.

61.8 Bitcoin Trading Fib Projection Level

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

To draw Fib Projection 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. Fib Projection Technical Indicator is plotted using 3 chart points as shown on the cryptocurrency trading example illustrated below of how to draw the Fibonacci Projection Indicator Tool.

The Fibonacci Projection example illustrated below shows the 3 Chart Points where the Fibonacci Projection 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 Projection Technical Indicator Tool example illustrated below.

The First Fibonacci Projection Level is the 61.8 Bitcoin Fibo Projection Level shown Below Used to Set Take Profit Bitcoin Orders

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

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