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RE: Steemit Crypto Academy Contest / S14W4 - Fibonacci Retracements
Great analogy! It's like having checkpoints on a treasure hunt in a video game. The Fibonacci percentages act as key spots where the market might take a breather or change its course, just like finding cool areas in the game to rest and plan your next moves.
The connection to the Fibonacci sequence adds a fascinating layer to how traders predict potential bounce-back or slowdown points. The 38.2%, 50%, and 61.8% checkpoints indeed represent different levels of pause, making it a strategic tool for traders. Well captured!
I have also participated in the contest, do well to check it out and engage. My post link to the contest.