What are the recommended candlestick settings for analyzing Bitcoin price movements on TradingView?

4 answers

• Dec 17, 2021 · 3 years ago
  When it comes to analyzing Bitcoin price movements on TradingView, the recommended candlestick settings may vary depending on your trading strategy and time horizon. However, a commonly used time frame for analyzing Bitcoin is the daily chart. This allows you to capture the overall trend and identify key support and resistance levels. As for the interval, using a 1-hour or 4-hour interval can provide more detailed information and help you spot short-term price patterns. Additionally, it's important to consider using indicators such as moving averages, RSI, and MACD to complement your candlestick analysis.
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• Dec 17, 2021 · 3 years ago
  Alright, let's talk about candlestick settings for analyzing Bitcoin price movements on TradingView. First, the time frame you choose depends on your trading style. If you're a long-term investor, you might want to look at the weekly or monthly charts to get a broader perspective. For day traders, the 15-minute or 1-hour charts can be more useful. As for the interval, it's generally recommended to use the default settings provided by TradingView. However, you can experiment with shorter or longer intervals to see what works best for you. Remember, it's not just about the candlestick settings, but also about combining them with other technical indicators to make informed trading decisions.
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• Dec 17, 2021 · 3 years ago
  When it comes to analyzing Bitcoin price movements on TradingView, it's important to find the candlestick settings that work best for you. While there are no one-size-fits-all recommendations, here are some suggestions to consider. For the time frame, the daily or 4-hour chart can provide a good balance between capturing the overall trend and spotting short-term price patterns. As for the interval, using a 1-hour or 30-minute interval can help you identify intraday price movements. Don't forget to experiment with different settings and indicators to find your own winning combination. And remember, always do your own research and make informed decisions.
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• Dec 17, 2021 · 3 years ago
  BYDFi recommends using the daily chart with a 4-hour interval for analyzing Bitcoin price movements on TradingView. This combination allows you to capture the overall trend while also providing detailed information on short-term price patterns. Additionally, BYDFi suggests using indicators such as the 50-day and 200-day moving averages, RSI, and MACD to complement your candlestick analysis. However, it's important to note that the best candlestick settings may vary depending on your trading strategy and risk tolerance. It's always a good idea to backtest different settings and evaluate their performance before making any trading decisions.
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