We have been learning about Cryptocurrency and how financial analyst use Fibonacci ratios to measure and attempt to predict the price movements of investment instrument. We already covered the theory of how the mathematics of Fibonacci functions, how the ratios are reached and now we get to see a real life chart.
The investment instrument being measured is BOTZ or Global X Robotics.
The vertical left line cover the pricing in dollars.
The bottom horizontal line covers the timeframe, starting Sept 12, 2016 until Jun 25, 2018.
The right hand ascending numbers are markers for the when the Fibonacci ratios meet the asset pricing.
Note that when BOTZ pricing reaches Fibonacci 100 the stock price plummets.
If you are lost in the wood please refer to previous articles by typing Fibonacci in the “search’ segment which is over the categories segment.
I’m going to add another chart so you can practice, if interested.
Learn more about finance terms at Investopedia
0 Comments