Fibonacci retracement levels are a strategy that some traders use to analyze a stock’s resistance levels. You can use many different retracement levels but one of the most common is 61.8%.

The top cryptocurrency rose to $122,056, testing the 1.618% Fibonacci extension originating from the 2018 bear market low and the 2022 bear market low. The 1.618% extension is derived from the ...

That level represents the 1.618% Fibonacci extension, originating from the December 2018 lows, the December 2022 lows, and the 2021 high.