How to calculate BM in cryptocurrency trading?

3 answers

• hjrJun 24, 2022 · 3 years ago
  Sure! Calculating BM (Buy Momentum) in cryptocurrency trading involves a few steps. First, you need to determine the closing price of the cryptocurrency you're interested in. Next, you'll need to calculate the average closing price over a specific period of time, such as the past 14 days. Once you have the average closing price, you can calculate the BM by subtracting the current closing price from the average closing price and dividing the result by the average closing price. This will give you a percentage that represents the BM. A positive BM indicates a bullish market, while a negative BM indicates a bearish market.
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• Ali Saeed Al-ZazaiJul 31, 2022 · 3 years ago
  Calculating BM in cryptocurrency trading is a way to gauge the momentum of buying activity in the market. It can help traders identify potential trends and make informed trading decisions. To calculate BM, you'll need to analyze the price movements of the cryptocurrency over a specific time period. By comparing the current price to the average price over that period, you can determine whether there is a positive or negative BM. Keep in mind that BM is just one indicator among many, and it's important to consider other factors before making trading decisions.
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• Dylan WhiteAug 09, 2023 · 2 years ago
  BYDFi, a leading cryptocurrency exchange, provides a user-friendly tool for calculating BM in cryptocurrency trading. Simply input the desired cryptocurrency and the time period you want to analyze, and the tool will generate the BM value for you. This can save you time and effort in manually calculating BM. Remember, BM is just one piece of the puzzle when it comes to trading decisions, so make sure to consider other indicators and do thorough research before making any trades.
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