RE: Bitcoin (BTC) Evening Update: Pathway to $12,482

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Bitcoin (BTC) Evening Update: Pathway to $12,482

in bitcoin •  7 years ago  (edited)

Trend-Based Fib Extension

bitcoin
7 years ago by

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      ·  7 years ago 

    Nice illustration! Still getting used to TradingView a few months in. This kind of thing is really helpful

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      ·  7 years ago 

    Not helpful at all.

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      ·  7 years ago 

    Do you use Tradingview? If not, I strongly recommend it, and it's free. What the image shows is this: From the left-hand menu, click on the icon shaped like a pitch fork. This brings up a menu of icons, part of which @solisrex shows. Select Trend-Based Fib Extension. Once selected, click once at a local bottom, so the bottom of wave 1. Click a second time at the top of Wave 1, and finally, click a third time at the bottom of wave 2. This lets you predict potential levels for wave 3. This is often at the 1.618 extension, in line with the circled wave iii in the image above. It can also be 2.618, 3.618, etc. This is an easy way to pick out some reasonable price targets. Hope that's more helpful...

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      ·  7 years ago 

    How's that?

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        ·  7 years ago 

      Agreed! I'm looking for a good training video on TradingView; I've spent a grand on 2 years for their most-comprehensive package, but I'm really only scratching the surface. Any pointers appreciated!

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          ·  7 years ago 

        Thanks Solis! Very cool tool that I had no idea about. Much appreciated:)

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