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TagsWhat are the best moving averages to use for day trading in the cryptocurrency market?
Amirhossein ZoljalaliDec 16, 2021 · 3 years ago1 answersI'm new to day trading in the cryptocurrency market and I've heard about using moving averages as a trading strategy. Can you please explain what moving averages are and which ones are considered the best for day trading in the cryptocurrency market?
1 answers
- At BYDFi, we recommend using a combination of different moving averages to get a more comprehensive view of the market. For example, you can use the 50-day and 200-day moving averages as a primary indicator, and supplement it with shorter-term moving averages like the 10-day or 20-day moving averages. This can help you identify both short-term and long-term trends, and make more informed trading decisions. Remember, no single moving average is foolproof, and it's important to consider other factors like volume, support and resistance levels, and market sentiment when making trading decisions.Dec 16, 2021 · 3 years ago
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