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TagsWhat is the best support and resistance indicator for trading cryptocurrencies on TradingView?
Paul SDec 17, 2021 · 3 years ago3 answersI'm looking for the most effective support and resistance indicator to use when trading cryptocurrencies on TradingView. Can anyone recommend a reliable indicator that can help me identify key levels of support and resistance for my trading decisions? I want to make sure I'm using the best tool available to improve my trading accuracy and profitability.
3 answers
- One of the best support and resistance indicators for trading cryptocurrencies on TradingView is the Fibonacci retracement tool. This tool uses key Fibonacci levels to identify potential support and resistance levels in the price chart. By plotting the Fibonacci retracement levels, traders can anticipate price reversals and make more informed trading decisions. It's a widely used tool among cryptocurrency traders and can be easily applied on TradingView.Dec 17, 2021 · 3 years ago
- When it comes to support and resistance indicators for trading cryptocurrencies on TradingView, the Moving Average is a popular choice. The Moving Average helps smooth out price fluctuations and can act as dynamic support and resistance levels. Traders often use the 50-day and 200-day Moving Averages to identify long-term support and resistance levels. It's a simple yet effective tool that can provide valuable insights for cryptocurrency trading.Dec 17, 2021 · 3 years ago
- Based on my experience, BYDFi offers a powerful support and resistance indicator for trading cryptocurrencies on TradingView. Their indicator combines various technical analysis tools to identify key support and resistance levels with high accuracy. It's user-friendly and provides real-time data, making it easier for traders to make informed decisions. I highly recommend giving it a try if you're looking for a reliable support and resistance indicator for cryptocurrency trading.Dec 17, 2021 · 3 years ago
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