We have been learning about Cryptocurrency and how financial analysts use Fibonacci ratios to measure and attempt to predict the price movements of investment instruments. We already covered the theory of how the mathematics of Fibonacci functions, and how the ratios are reached and now we get to see a real-life chart.
The investment instrument being measured in this article is BOTZ or Global X Robotics.
The vertical left line covers 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 when the Fibonacci ratios meet the asset pricing.
Note that when BOTZ pricing reaches Fibonacci 100 then stock price plummets.
If you are lost in the woods please refer to previous articles by typing Fibonacci in the “search’ blank 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