Trading cryptocurrencies with four top indicators

Anyone who trades in various financial markets is aware that technical analysis requires a great deal of knowledge and experience and that this should never, ever be underestimated, of course this requires a professional attitude. and mindset to do this successfully in the long run.

There are also a number of factors on charts that are not always understandable in what it should tell us. Today we will take a closer look at certain indicators that can further help us to make the right choices when trading.

01. MYC Indicator

One of the most accurate indicators we can use in our charts is the MYC Indicator. This indicator shows us when a cryptocurrency is going to be in a bullish or bearish phase, making it possible to estimate when the price will rise or fall, so that we can take advantage of the right entry positions that we can take our hit with.

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The MYC Indicator is highly respected with these features and the high success rate, so in our opinion a great indicator to purchase.

02. Relative Strength Index (RSI)

 

 

One of the most ancient indicators created by Welles Wilder about 40 years ago is the Relative Strength Index, also known as RSI. Movements that are present at all times in the market such as pullbacks are neatly mapped out so that traders can see via the RSI whether a digital asset is far below or above its original level. This makes it possible to choose a good entry point when it is clear that a correction has taken place or will take place.

It is well known that prices on the crypto market will make a correction after a bullish or bearish phase has taken place, the RSI can be very helpful in this case. This indicator works on a scale from 0 to 100, once a certain crypto asset is below 30 you can classify it as being “oversold”. and if it is above 70 it is often seen as being overbought.

03 . Bollinger Bands

 

In the 1980’s John Bollinger introduced an indicator known as the Bollinger Bands, which can be considered as a kind of oscillating meter that shows the high and low volatility within a certain range and indicates whether the market is in an overbought or oversold phase.

What we see on the Bollinger Bands is the upper band, moving average and lower band which charts the possible price movements within a certain time frame based on fluctuations.

0 4. Moving Averages

Perhaps the most well-known of all, the Moving Averages indicator. With this, price movements are mapped with lines, this allows traders to gain insight into possible future price movements, even showing somewhat where the support and resistance levels are. Moving Averages are widely used by various traders, although it also depends a bit on which strategy a trader uses for the short and / or long term.

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Investments in cryptocurrencies are risky!
Btctools is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused by the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers must do their own research before taking any action and invest only within their financial possibilities. This article does not constitute investment advice.

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