What are some indicators that can be used in conjunction with the silver 200-day moving average to predict cryptocurrency market trends?

1 answers

• Jan 13, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using the Bollinger Bands as an indicator in conjunction with the silver 200-day moving average to predict market trends. Bollinger Bands consist of a middle band (the 20-day moving average) and two outer bands that are standard deviations away from the middle band. When the price of a cryptocurrency moves close to the upper band, it suggests that the market is overbought and a price correction may occur. Conversely, when the price moves close to the lower band, it suggests that the market is oversold and a price rebound may be imminent. Combining the Bollinger Bands with the silver 200-day moving average can provide traders with valuable insights into potential market trends and reversals.
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