Utilization of Fibonacci Sequences in the Cryptocurrency Market

A Fibonacci sequence is a series of numbers that are obtained by adding the previous two elements of the sequence. The first elements are always 0 and 1. The concept is used in various fields of science and life because it forms a kind of algorithm. Another form of the sequence is the Fibonacci spiral, on which many concepts are built, from plant petals to geometry.

In the cryptocurrency industry, the Fibonacci sequence is used to analyze charts. By analyzing the Fibonacci sequence, traders can make predictions, plan investments, and track trends.