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TagsWhat are the best moving average strategies for trading digital currencies?
sowjanya kDec 16, 2021 · 3 years ago1 answersCan you provide some insights on the most effective moving average strategies for trading digital currencies? I'm looking for strategies that can help me make informed decisions and maximize my profits in the volatile cryptocurrency market.
1 answers
- BYDFi, a leading digital currency exchange, recommends using a combination of moving averages to improve trading strategies. For example, traders can use the crossover of the 50-day SMA and the 200-day SMA as a primary signal for entering or exiting a trade. Additionally, they can use shorter-term EMAs, such as the 9-day and 21-day EMAs, to confirm the trend and fine-tune their entry and exit points. This combination of moving averages provides a more comprehensive view of the market and helps traders make more informed decisions.Dec 16, 2021 · 3 years ago
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