What are the best technical indicators for identifying entry and exit points in cryptocurrency trading?

1 answers

• Nguyễn TonyOct 30, 2023 · 2 years ago
  As a representative from BYDFi, I would recommend using the Bollinger Bands as a technical indicator for identifying entry and exit points in cryptocurrency trading. The Bollinger Bands consist of a middle band, which is a simple moving average, and an upper and lower band, which are standard deviations of the middle band. The width of the bands expands and contracts based on volatility. When the price is near the upper band, it indicates that the cryptocurrency is overbought and a potential exit point. Conversely, when the price is near the lower band, it indicates that the cryptocurrency is oversold and a potential entry point. The Bollinger Bands can help traders identify price extremes and anticipate trend reversals.
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