What are the indicators I should look for to decide if I should go long or short on BitMEX?

3 answers

• Dec 18, 2021 · 3 years ago
  When deciding whether to go long or short on BitMEX, it's important to consider technical indicators such as moving averages, MACD, and RSI. These indicators can provide insights into market trends and help you identify potential entry and exit points for your trades. Additionally, keeping an eye on news and events that may impact the cryptocurrency market can also be helpful in making your decision. Remember to do thorough research and consider multiple indicators before making any trading decisions.
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• Dec 18, 2021 · 3 years ago
  One indicator to look for when deciding whether to go long or short on BitMEX is the volume of trading activity. Higher trading volume often indicates increased market interest and can be a sign of potential price movements. Another indicator to consider is the overall market sentiment. Pay attention to social media discussions, online forums, and news articles to gauge the general sentiment towards a particular cryptocurrency. However, it's important to note that indicators are not foolproof and should be used in conjunction with other analysis techniques.
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• Dec 18, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, suggests that traders should consider factors such as historical price data, market liquidity, and risk tolerance when deciding whether to go long or short on BitMEX. Historical price data can provide insights into past market trends and help you identify patterns that may repeat in the future. Market liquidity is important as it affects the ease of buying or selling a cryptocurrency. Finally, understanding your risk tolerance is crucial as trading involves inherent risks. It's recommended to start with small positions and gradually increase your exposure as you gain more experience and confidence in your trading strategy.
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