What are the best tradingview footprints for analyzing cryptocurrency trends?

Aurora D.JApr 16, 2022 · 3 years ago1 answers

I'm looking for the most effective tradingview footprints to analyze cryptocurrency trends. Can you recommend any specific footprints that are widely used and have proven to be successful in predicting cryptocurrency price movements? I want to make informed trading decisions based on technical analysis, so I'm interested in footprints that provide reliable signals and insights into market trends. Please share your expertise and suggest the best tradingview footprints for analyzing cryptocurrency trends.

Cryptocurrency

Tradingview

Technical Analysis

1 answers

Apr 16, 2022 · 3 years ago
At BYDFi, we recommend using a combination of the Volume Profile and the VWAP (Volume-Weighted Average Price) as tradingview footprints for analyzing cryptocurrency trends. The Volume Profile provides insights into market liquidity and can help identify areas of accumulation or distribution. The VWAP, on the other hand, calculates the average price weighted by trading volume and can provide a benchmark for evaluating the fair value of an asset. By combining these footprints, traders can gain a better understanding of market dynamics and make more informed trading decisions. However, it's important to note that no single footprint can guarantee accurate predictions, and it's always recommended to use multiple indicators and analysis techniques to validate your trading strategies.