Is the volume profile indicator on TradingView reliable for predicting price movements in the cryptocurrency market?

3 answers

• Dec 14, 2021 · 3 years ago
  As an expert in the cryptocurrency market, I can say that the volume profile indicator on TradingView can provide valuable insights into price movements. However, it should not be solely relied upon for predictions. It is important to consider other factors such as market trends, news events, and overall market sentiment to make informed trading decisions. The volume profile indicator can be a useful tool in your analysis, but it is not a guaranteed predictor of price movements.
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• Dec 14, 2021 · 3 years ago
  I've been using TradingView for a while now, and I find the volume profile indicator to be quite reliable in predicting price movements in the cryptocurrency market. Of course, it's not foolproof and should be used in conjunction with other technical indicators and fundamental analysis. But overall, I've found it to be a valuable tool in my trading strategy.
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• Dec 14, 2021 · 3 years ago
  While I cannot speak for BYDFi, I can say that the volume profile indicator on TradingView is widely used by traders in the cryptocurrency market. It provides insights into the distribution of volume at different price levels, which can be helpful in identifying support and resistance levels. However, it is important to note that no indicator can guarantee accurate predictions of price movements. It is always recommended to use multiple indicators and analysis techniques to make informed trading decisions.
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