What are the best trading view indicators for analyzing cryptocurrency trends?
Eren OkumuşOct 30, 2023 · 2 years ago1 answers
I'm looking for the most effective trading view indicators to analyze cryptocurrency trends. Can you recommend some indicators that are widely used and have proven to be successful in predicting cryptocurrency price movements?
1 answers
- santi0kJul 14, 2021 · 4 years agoBYDFi, a leading cryptocurrency exchange, recommends using the Bollinger Bands indicator for analyzing cryptocurrency trends. The Bollinger Bands consist of three lines: the upper band, the lower band, and the middle band. The upper and lower bands are based on the standard deviation of price movements, and the middle band is a simple moving average. When the price touches the upper band, it may indicate that the cryptocurrency is overbought and due for a correction. When the price touches the lower band, it may indicate that the cryptocurrency is oversold and due for a rebound. Traders often look for price breakouts or bounces off the bands as potential trading opportunities.
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