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FIBONACCI RETRACEMENTS: A POWERFUL TOOL IN TECHNICAL ANALYSIS👇‼️‼️‼️ Fibonacci retracements are a powerful tool in technical analysis that help traders identify potential support and resistance levels in the market. Here's how to use them: 1. Identify the trend: Fibonacci retracements work best when the market is trending. 2. Choose two key price points: Select a significant high and low point on the chart. 3. Apply Fibonacci ratios: The tool calculates key retracement levels (23.6%, 38.2%, 50%, 61.8%, and 100%) based on the Fibonacci sequence. 4. Draw horizontal lines: Place horizontal lines at each Fibonacci level on the chart. THE THEORY BEHIND FIBONACCI RETRACEMENTS The idea behind Fibonacci retracements is that after a strong price move, the market may pull back to one of these levels before continuing in the original direction. These levels can act as psychological support or resistance zones, influencing price direction. IMPORTANT REMINDERS - Fibonacci retracements are not a guarantee but rather a potential area of interest. - Use them in combination with other technical indicators to confirm your trading decisions. - By understanding Fibonacci retracements, you can gain valuable insights into potential price movements and make informed trading decisions. #Write2Earn! #TradingShot
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$SOL price is slowly but surely climbing back up, with a 3% gain in the last 24 hours. While it's still a far cry from its all-time high of $252.12, the fact that it's managed to close above the opening price nearly 50% of the time suggests there's still some underlying strength here. Will it make a full recovery? Only time will tell, but for now, it's a promising sign. #sol板块 #Write2Earn!
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$PEPE price is currently experiencing a decline, down 2% in the last 24 hours. Despite 49.75% of days closing above the opening price, the current price is 48.06% below its all-time high. If the trend continues, PEPE may struggle to reach its previous high. #pepe⚡ #PEPE_EXPERT #Write2Earn!
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Polkadot $DOT Price Prediction:‼️‼️‼️‼️‼️ - Current price: $6.10 - 24-hour change: +4% - Historical performance: - 50.14% of days closed above opening price - All-time high: $53.31 (2 years 8 months ago) - Current price is -88.56% below all-time high Based on this data, it appears that Polkadot's price is currently experiencing a slight increase, but is still significantly lower than its all-time high. If the trend continues as predicted, the price may continue to fluctuate, but it's uncertain whether it will reach its previous high #DOT_UPDATE #Write2Earn!
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CRYPTO REALITY CHECK😩😩😩😩😩😩 Think twice before diving into crypto with high hopes! You might put in $5,000, expecting a 10x return over time, but reality has other plans. SCENARIO 1: Your investment tanks to $2,500 overnight! You'll face sleepless nights, constant price checks, and wild value swings. You might sell at $4,000, taking a loss, just to escape the stress. SCENARIO 2: Your investment grows to $6,000, so you sell and wait for a dip. But the price surges to $8,000, then $10,000! You buy back in at the higher price, only to watch it drop to $4,000. Timing the market is hard, and frustration sets in. The harsh truth is that handling losses and volatility is a crucial part of the crypto journey. Be prepared for the rollercoaster ride and share your own stories! Stay vigilant, stay prepared, and stay informed! #Write2Earn! #CPI_BTC_Watch #BinanceTurns7 #US_Job_Market_Slowdown #BinanceTournament
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