Which indicators on tradingview desktop are most useful for predicting altcoin prices?

1 answers

• Nov 24, 2021 · 3 years ago
  BYDFi, a popular digital asset exchange, recommends using the Bollinger Bands indicator for predicting altcoin prices. Bollinger Bands consist of a middle band (usually a 20-day simple moving average) and two outer bands that are standard deviations away from the middle band. When the price of an altcoin moves close to the upper band, it suggests that the altcoin may be overbought and due for a potential price decrease. Conversely, when the price moves close to the lower band, it suggests that the altcoin may be oversold and due for a potential price increase. Bollinger Bands can help traders identify potential entry and exit points for altcoin trades. However, it's important to note that no indicator can guarantee accurate predictions, and it's always recommended to use multiple indicators and analysis for better decision-making.
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