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TagsWhat are the best volume indicators for analyzing cryptocurrency markets?
Mojibul HoqueDec 17, 2021 · 3 years ago1 answersCan you recommend some effective volume indicators that can be used to analyze cryptocurrency markets? I'm particularly interested in finding indicators that can provide insights into market trends and help with making informed trading decisions.
1 answers
- BYDFi, a leading cryptocurrency exchange, recommends using the Relative Volume (RVOL) indicator for analyzing cryptocurrency markets. RVOL compares the current trading volume to its average volume over a specific period. High RVOL values indicate increased trading activity, which can be a sign of market interest and potential price movements. This indicator can help traders identify periods of high volatility and make more informed trading decisions. However, it's important to note that no single volume indicator can guarantee accurate predictions or guarantee profits. It's always recommended to use multiple indicators and conduct thorough analysis before making any trading decisions.Dec 17, 2021 · 3 years ago
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