Fibonacci Bitcoin Exercises

These exercises will give more examples on retracement and expansion. first exercise is to figure out the direction of the Bitcoin trend & then determine if Fibo tool used is retracement or expansion & then figure how it is drawn then practice drawing them on a bitcoin chart.

Tasks:

1. Figure out the direction of the Bitcoin trend
2. Determine if Fibonacci is retracement or expansion
3. Figure how it is drawn
4. Practice plotting retracement or expansion on a bitcoin chart.

To find a cryptocurrency chart just Download MT4 trading platform from any one of the many cryptocurrency trading brokers.

After you've downloaded MetaTrader 4, Navigate to the menu 'insert' at top left corner, on the drop-down menu, click Fibo & choose either the option of retracement or expansion. Then plot it as explained in the previous courses of Expansion and retracement. Then do the following exercises:

Retracements and Expansions Exercise

Exercises 1:

Exercises 2:

Exercises 3:

Exercises 4:

Exercises 5:

Hint: point 1 to point 2 follows the bitcoin trend direction

Hint: Retracement has points 1 & 2

Hint: Expansion has point 1, 2 and 3