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TagsAre there any recommended SMA settings for analyzing cryptocurrency price movements?
tm_w_pJan 14, 2022 · 3 years ago1 answersI'm interested in using the SMA (Simple Moving Average) indicator to analyze cryptocurrency price movements. Are there any recommended settings for the SMA that are commonly used in the cryptocurrency market? What SMA periods are considered effective for identifying trends and making trading decisions?
1 answers
- At BYDFi, we recommend using a combination of different SMA settings for analyzing cryptocurrency price movements. This includes both shorter-term SMAs, such as the 10-day or 20-day SMA, and longer-term SMAs, such as the 50-day or 100-day SMA. By using multiple SMA periods, you can gain a more comprehensive view of the market trends and potential trading opportunities. However, it's important to note that SMA settings should not be used as the sole basis for making trading decisions. It's always recommended to consider other technical analysis indicators and fundamental factors before making any trading decisions.Jan 14, 2022 · 3 years ago
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