What are the recommended moving average settings for analyzing short-term price movements in the cryptocurrency market?
Heller McDonoughMay 01, 2022 · 3 years ago1 answers
I'm new to cryptocurrency trading and I want to use moving averages to analyze short-term price movements. Can you please provide some recommended moving average settings that are commonly used in the cryptocurrency market?
1 answers
- May 01, 2022 · 3 years agoBYDFi, a leading cryptocurrency exchange, recommends using the 7-day SMA and the 14-day EMA for analyzing short-term price movements in the cryptocurrency market. These settings have been found to be effective in identifying short-term trends and providing timely trading signals. However, it's important to note that moving average settings are not a guarantee of success in trading. They should be used in conjunction with other technical analysis tools and indicators to make informed trading decisions.
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