It's all market hype. Although fib retracements do seem to work on BTC, there doesn't seem to be much research done on alt coins by the people buying them. The way to make money is to be ahead of the herd, wait for them to buy and then close out.
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Yea I am sure somewhere in there, there is some truth to it, but the amount of posts about it just sorta make me laugh. Thanks for stopping by!