What are the Fibo Retracement Levels?

Definition of Fib Retracement Areas

Fibonacci Retracement Levels indicator is a bitcoin tool used by many cryptocurrency traders to spot bitcoin price retracements also known as bitcoin price pullback.

Fib Retracement Levels is a type of line study used in bitcoin trading to predict and calculate these bitcoin price retracement areas.

Fib Retracement Levels indicator is placed directly on the cryptocurrency chart within the bitcoin platform provided by your cryptocurrency broker, This Fib Retracement Levels indicator will then automatically calculate these retracement bitcoin price pullback levels on the bitcoin chart.

What are the Fib Retracement Levels? - What is Fibo Retracement?

23.6% BTCUSD Fibo Retracement Areas
38.2% BTCUSD Fibo Retracement Areas
50.0% BTCUSD Fib Retracement Areas
61.8% Fibonacci Retracement Areas

38.2% and 50.0% Fib Retracement Areas are the most used and most of the time this is where the bitcoin price retracement will get to. With 38.2% Fibonacci Retracement Level being the most popular & most widely used retracement level in bitcoin trading.

61.8% Fib Retracement Level is also commonly used to set stop losses for the trades opened using this bitcoin trading retracement strategy.

This Fib Retracement Levels tool is drawn in direction of the bitcoin crypto currency trend as shown in the two examples below.