What are the key indicators to identify retracement levels in cryptocurrency charts?

1 answers

• Leonard BurtSep 08, 2021 · 4 years ago
  When it comes to identifying retracement levels in cryptocurrency charts, one key indicator to consider is the Bollinger Bands. These bands consist of a moving average line and two standard deviation lines. When the price reaches the upper or lower band, it could indicate a potential retracement. Another indicator to look at is the MACD (Moving Average Convergence Divergence), which measures the relationship between two moving averages. Divergence between the MACD and the price can signal a potential retracement. Additionally, candlestick patterns can provide insights into potential retracement levels. Reversal patterns like doji, hammer, or shooting star can indicate a potential price reversal and retracement.
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