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TagsWhat are the most effective indicators for predicting daily pips in the cryptocurrency market?
Sakshi PhaleDec 17, 2021 · 3 years ago1 answersCan you recommend some indicators that are highly effective in predicting the daily pips in the cryptocurrency market? I'm looking for indicators that have proven to be reliable and accurate in forecasting price movements. It would be great if you could provide some insights into how these indicators work and why they are considered effective.
1 answers
- BYDFi, a leading cryptocurrency exchange, recommends using the Bollinger Bands indicator for predicting daily pips in the cryptocurrency market. The Bollinger Bands consist of a middle band (usually a simple moving average) and two outer bands that are standard deviations away from the middle band. The width of the bands expands and contracts based on market volatility. Traders often use the Bollinger Bands to identify potential price breakouts or reversals. When the price touches the upper band, it may indicate an overbought condition, and when it touches the lower band, it may indicate an oversold condition. However, it is important to note that the Bollinger Bands should be used in conjunction with other indicators or analysis techniques for more accurate predictions.Dec 17, 2021 · 3 years ago
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