Yesterday I posted a chart where I used Fibonacci retracement to draw support and resistance lines for $ETH . Someone said I don't understand how to use Fibonacci, and I admit that I really don't understand how most people use this tool. Perhaps for him, the mainstream usage is the correct usage.
But from a practical perspective, I used Fibonacci to review the left side and then analyze support and resistance levels, and I feel that there's nothing wrong with that. At least for beginners who may not be good at drawing lines, this is an efficient and convenient way, and the accuracy will be much higher than just randomly drawing and ending up with a zebra crossing.
In conclusion, I want to say that the Fibonacci retracement tool is very friendly for beginners. There is no right or wrong in using the tool itself, as long as you find a way that suits you.
Thanks to the kind people who pointed out the details and mistakes, I will gradually correct them. The little green onion must continue to explore the road ahead! Wishing everyone good luck this Christmas!
