Which cryptocurrencies have shown a strong correlation with Fibonacci 50 retracement levels?

3 answers

• Dec 26, 2021 · 3 years ago
  Certainly! Several cryptocurrencies have shown a strong correlation with Fibonacci 50 retracement levels. Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are among the most notable ones. These cryptocurrencies have consistently exhibited price movements that align with the Fibonacci 50 retracement levels, making them interesting assets to analyze from a technical analysis perspective.
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• Dec 26, 2021 · 3 years ago
  Yes, there are cryptocurrencies that exhibit a strong correlation with Fibonacci 50 retracement levels. Some examples include Ripple (XRP), Cardano (ADA), and Binance Coin (BNB). These digital currencies have shown price patterns that often respect the Fibonacci 50 retracement levels, indicating a potential influence of this technical analysis tool in their market behavior.
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• Dec 26, 2021 · 3 years ago
  Based on my experience at BYDFi, I have observed that Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) have displayed a significant correlation with Fibonacci 50 retracement levels. Traders and investors often pay attention to these levels when analyzing the price movements of these cryptocurrencies. It's important to note that correlation does not imply causation, but the repeated alignment with Fibonacci retracement levels suggests a potential relationship worth exploring.
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