Which cryptocurrencies have shown the highest correlation with VWAP in day trading?

3 answers

• Dec 26, 2021 · 3 years ago
  When it comes to day trading and VWAP, some cryptocurrencies have shown a strong correlation. Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are among the top cryptocurrencies that have demonstrated a high correlation with VWAP. These cryptocurrencies have a large trading volume and are widely traded, making them more likely to align with VWAP movements. However, it's important to note that correlation does not imply causation, and other factors can also influence the correlation between cryptocurrencies and VWAP in day trading.
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• Dec 26, 2021 · 3 years ago
  In day trading, the correlation between cryptocurrencies and VWAP can vary. While Bitcoin (BTC) and Ethereum (ETH) have historically shown a strong correlation with VWAP, other cryptocurrencies like Litecoin (LTC) and Bitcoin Cash (BCH) may have a weaker correlation. It's important for day traders to analyze the specific market conditions and individual cryptocurrency's trading volume to determine the correlation with VWAP. Additionally, it's crucial to consider other technical indicators and factors that can impact day trading strategies.
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• Dec 26, 2021 · 3 years ago
  According to a recent analysis by BYDFi, the top cryptocurrencies that have demonstrated the highest correlation with VWAP in day trading are Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). These cryptocurrencies have consistently shown a strong alignment with VWAP movements, making them popular choices among day traders. However, it's important to conduct thorough research and analysis before making any trading decisions, as correlation alone is not a guarantee of profitability. It's always advisable to consider multiple factors and indicators when engaging in day trading activities.
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