How is previous close defined in the world of cryptocurrency?

3 answers

• May 01, 2022 · 3 years ago
  The previous close in the world of cryptocurrency refers to the price at which a particular cryptocurrency traded at the end of the previous trading session. It is an important indicator for traders and investors to analyze the market trends and make informed decisions. The previous close is typically used in technical analysis to identify support and resistance levels and to predict future price movements. It is calculated based on the closing price of the cryptocurrency on the previous trading day.
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• May 01, 2022 · 3 years ago
  Previous close in the world of cryptocurrency is the price at which a specific cryptocurrency was traded at the end of the last trading session. It helps traders and investors understand the price movement and trends in the market. By analyzing the previous close, traders can identify potential entry and exit points for their trades. It is an important data point used in technical analysis and can provide insights into the overall market sentiment.
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• May 01, 2022 · 3 years ago
  In the world of cryptocurrency, the previous close is the price at which a particular cryptocurrency was traded at the end of the previous trading session. It is a key reference point for traders and investors to assess the market performance and make trading decisions. For example, if the current price is higher than the previous close, it may indicate a bullish trend, while a lower price suggests a bearish trend. Traders often use the previous close as a benchmark to set stop-loss and take-profit levels for their trades.
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