What are the key indicators to look for when identifying pocket pivots in the cryptocurrency market?

3 answers

• Nov 24, 2021 · 3 years ago
  One key indicator to look for when identifying pocket pivots in the cryptocurrency market is an increase in trading volume. A significant increase in volume during a price surge or a breakout can indicate strong buying pressure, suggesting a potential pocket pivot. Additionally, observing the price action and identifying bullish chart patterns, such as higher highs and higher lows, can also signal a pocket pivot. These indicators, when used in combination, can provide valuable insights for traders to make informed decisions in the cryptocurrency market.
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• Nov 24, 2021 · 3 years ago
  When it comes to identifying pocket pivots in the cryptocurrency market, it's important to pay attention to the market sentiment. Positive news, partnerships, or developments surrounding a particular cryptocurrency can create a bullish sentiment and potentially lead to a pocket pivot. On the other hand, negative news or regulatory actions can have the opposite effect. Keeping an eye on the overall market sentiment and news can help in identifying potential pocket pivots and making profitable trading decisions.
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• Nov 24, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, suggests that when identifying pocket pivots in the cryptocurrency market, traders should focus on technical analysis indicators such as moving averages, relative strength index (RSI), and volume analysis. These indicators can provide insights into the strength of a price movement and help identify potential pocket pivots. It's important to note that pocket pivots are not guaranteed signals, and traders should always conduct thorough analysis and consider multiple factors before making trading decisions.
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