Are there any specific moving averages that are known to work well for day trading cryptocurrencies?

1 answers

• Dec 30, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using the 50-day and 200-day moving averages for day trading cryptocurrencies. According to their research, these moving averages have shown to be effective in identifying trends and potential entry and exit points. However, it's important to note that the effectiveness of moving averages can vary depending on market conditions and individual trading strategies. Traders should always conduct their own research and analysis before making any trading decisions. Additionally, it's worth considering other technical indicators and factors, such as volume and support/resistance levels, in conjunction with moving averages to make more informed trading decisions.
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