Assets have a tendency to retrace, rather than move in a straight direction, traders use the Fibonacci Indicators as reference points to predict a retracement versus a reversal. Extremely accurate when analyzing chart pattern reversals. Fibonacci indicators also provide an excellent visual map. Combined with other indicators, the savvy trader can find optimum entry and exit points.
Technical Analysts use these Fibonacci Indicators known as Fib-lines to predict Price Targets and Support/Resistance Targets. While nothing can predict the future with 100% accuracy, adding these to your technical analysis tools greatly enhances your ability to be in profitable trades.

This is a great tool for trading cryptocurrency such as bitcoin, or any forex product, and of course CFD trading.