Are there any specific indicators or tools I should use when applying pivot points in intraday trading of cryptocurrencies?

3 answers

• Lukas WalkenhorstAug 21, 2020 · 5 years ago
  When it comes to applying pivot points in intraday trading of cryptocurrencies, there are several indicators and tools that can be helpful. One popular indicator is the Moving Average Convergence Divergence (MACD), which can help identify potential trend reversals. Another useful tool is the Relative Strength Index (RSI), which can indicate overbought or oversold conditions. Additionally, some traders find Fibonacci retracement levels and Bollinger Bands to be useful in conjunction with pivot points. Ultimately, the choice of indicators and tools will depend on your trading strategy and personal preferences.
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• Ali MkunaFeb 06, 2021 · 5 years ago
  Intraday trading of cryptocurrencies can be quite volatile, so it's important to use indicators and tools that can help you make informed decisions. Some traders rely on volume indicators, such as the On-Balance Volume (OBV), to gauge the strength of price movements. Others use oscillators like the Stochastic Oscillator or the Relative Vigor Index (RVI) to identify potential entry or exit points. It's also worth considering using candlestick patterns and support/resistance levels in conjunction with pivot points. Remember, it's always a good idea to backtest any indicators or tools before using them in live trading.
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• Ajit DeshmukhFeb 09, 2023 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using a combination of indicators and tools when applying pivot points in intraday trading. Some popular choices among traders include the Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Bollinger Bands. However, it's important to note that the effectiveness of these indicators and tools may vary depending on market conditions and individual trading strategies. It's always a good idea to experiment with different indicators and tools to find what works best for you. Remember to stay up to date with the latest market trends and news to make informed trading decisions.
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