Should you use Fibonacci sequences to trade Bitcoin?

Should investors consider utilizing Fibonacci sequences as a tool for trading Bitcoin? This ancient mathematical sequence, often associated with nature and growth patterns, has gained popularity in the financial markets for its potential predictive abilities. Proponents argue that Fibonacci ratios, such as 0.618 or 0.382, can help identify support and resistance levels in Bitcoin's price charts, guiding entry and exit points for trades. However, critics warn that relying solely on Fibonacci sequences may overlook other market factors and could lead to faulty predictions. What's your take on this? Is Fibonacci analysis a useful tool for Bitcoin traders, or is it more of a psychological crutch?