Fibonacci BTCUSD Crypto Exercises

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

Tasks:

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

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

After you've downloaded MT4, Navigate to the menu 'insert' at top left corner, on the dropdown menu, click Fibo & choose either the option of Fibonacci retracement or expansion. Then plot it as explained in the previous courses of Expansion and retracement. Then do the following exercises:

Retracements & Expansions levels Exercise

Exercises 1:

Exercises 2:

Exercises 3:

Exercises 4:

Exercises 5:

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

Hint: Fib Retracement has points 1 and 2

Hint: Fibonacci Expansion has point 1, 2 and 3