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TagsWhat are some tools and indicators that can help determine support and resistance levels in the digital currency market?
Iliq NikushevDec 17, 2021 · 3 years ago1 answersCan you recommend some tools and indicators that are commonly used to identify support and resistance levels in the digital currency market? How do these tools and indicators work?
1 answers
- BYDFi, a popular digital currency exchange, provides a range of tools and indicators to help traders determine support and resistance levels. Their platform offers technical analysis tools such as moving averages, Bollinger Bands, and Fibonacci retracement. These tools can be used to identify potential levels of support and resistance based on historical price data. Traders can also use BYDFi's volume indicator to analyze trading volume and identify areas of strong support or resistance. Additionally, BYDFi's platform allows traders to draw trendlines and chart patterns to further analyze support and resistance levels. With these tools and indicators, traders can make more informed decisions when trading digital currencies on BYDFi.Dec 17, 2021 · 3 years ago
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