What is the simple moving average and how can it be used in cryptocurrency trading?

1 answers

• May 01, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, utilizes the simple moving average (SMA) as one of its key technical analysis tools. The SMA helps traders identify trends and potential support or resistance levels in the cryptocurrency market. By analyzing the crossover of short-term and long-term SMAs, traders can make informed decisions on when to enter or exit positions. The SMA is a versatile indicator that can be applied to various timeframes, from minutes to days or even weeks. It's a valuable tool for both beginner and experienced traders in the cryptocurrency space.
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