Which cryptocurrencies have exhibited a strong correlation with the 1.618 Fibonacci retracement level?

6 answers

• rathiercMay 30, 2023 · 2 years ago
  Sure, there are several cryptocurrencies that have demonstrated a strong correlation with the 1.618 Fibonacci retracement level. Some of the notable ones include Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). These cryptocurrencies have shown consistent price movements that align with the Fibonacci retracement levels, especially the 1.618 level. Traders and investors often use these retracement levels as potential support or resistance levels when making trading decisions. It's important to note that while there is a correlation, it doesn't guarantee future price movements.
  584

  292
• TabandTapAug 29, 2022 · 3 years ago
  Oh yeah, Fibonacci retracement levels! They're like the secret sauce for technical analysis in the crypto world. So, when it comes to cryptocurrencies that have a strong correlation with the 1.618 Fibonacci retracement level, you gotta keep an eye on Bitcoin, Ethereum, and Litecoin. These bad boys have shown some serious price action that aligns with the 1.618 level. Traders love using these levels to predict potential price reversals or continuations. But hey, remember, correlation doesn't mean causation. So, don't go all-in based on Fibonacci alone, alright?
  566

  189
• Liubomyr ShmaliiDec 18, 2021 · 4 years ago
  Based on my experience at BYDFi, I can tell you that Bitcoin, Ethereum, and Litecoin have exhibited a strong correlation with the 1.618 Fibonacci retracement level. These cryptocurrencies have often seen significant price movements that align with this specific retracement level. Traders and investors often use the 1.618 level as a potential support or resistance level when analyzing price charts. It's important to note that while this correlation exists, it's not a foolproof indicator and should be used in conjunction with other technical analysis tools.
  561

  141
• Ismail SaaduJul 02, 2022 · 3 years ago
  Bitcoin, Ethereum, and Litecoin are among the cryptocurrencies that have shown a strong correlation with the 1.618 Fibonacci retracement level. These cryptocurrencies have experienced price movements that align with this specific retracement level, indicating a potential relationship. Traders and investors often consider the 1.618 level as a significant support or resistance level when analyzing price charts. However, it's important to remember that correlation does not imply causation, and other factors should be taken into account when making trading decisions.
  569

  114
• Raju SahNov 03, 2024 · 9 months ago
  When it comes to cryptocurrencies and the 1.618 Fibonacci retracement level, Bitcoin, Ethereum, and Litecoin have shown a strong correlation. These cryptocurrencies have exhibited price movements that align with the 1.618 level, suggesting a potential relationship. Traders often use Fibonacci retracement levels as a tool to identify potential support or resistance levels in the market. However, it's important to note that correlation does not guarantee future price movements, and other factors should be considered in conjunction with Fibonacci analysis.
  559

  94
• gamlasJul 23, 2023 · 2 years ago
  Bitcoin, Ethereum, and Litecoin are some of the cryptocurrencies that have demonstrated a strong correlation with the 1.618 Fibonacci retracement level. These cryptocurrencies have shown price movements that align with the 1.618 level, indicating a potential relationship. Traders often use Fibonacci retracement levels as a tool to identify potential areas of support or resistance. However, it's important to remember that correlation does not imply causation, and other factors should be taken into consideration when analyzing price movements.
  547

  79