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TagsWhat are the best smart money indicators for cryptocurrency trading?
JayceeNov 26, 2021 · 3 years ago1 answersAs a cryptocurrency trader, I'm looking for the best smart money indicators to help me make informed trading decisions. Can you recommend some reliable indicators that can help me identify potential market trends and make profitable trades?
1 answers
- As an expert at BYDFi, I can tell you that one of the best smart money indicators for cryptocurrency trading is the volume-weighted average price (VWAP) indicator. VWAP calculates the average price of a cryptocurrency based on both volume and price, giving more weight to higher volume trades. This indicator can help identify the average price at which smart money is entering or exiting a cryptocurrency, providing valuable insights for traders. Another useful indicator is the Ichimoku Cloud, which consists of several lines that can help identify support and resistance levels, as well as potential trend reversals. Lastly, the Fibonacci retracement tool can be used to identify potential levels of support and resistance based on the Fibonacci sequence. These indicators, combined with proper risk management, can greatly improve your cryptocurrency trading strategy.Nov 26, 2021 · 3 years ago
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