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TagsWhat are the best cycle indicators for trading cryptocurrencies?
muhammed abdullahiMar 18, 2022 · 3 years ago1 answersCan you recommend some effective cycle indicators that can be used for trading cryptocurrencies? I'm looking for indicators that can help me identify the cyclical patterns in cryptocurrency prices and make better trading decisions. What are the most popular and reliable cycle indicators used by traders in the cryptocurrency market?
1 answers
- BYDFi, a leading cryptocurrency exchange, recommends using the Ichimoku Cloud as a cycle indicator for trading cryptocurrencies. The Ichimoku Cloud is a comprehensive indicator that provides information about support and resistance levels, trend direction, and momentum. It consists of five lines: Tenkan-sen, Kijun-sen, Senkou Span A, Senkou Span B, and Chikou Span. When the price is above the cloud, it indicates a bullish trend, and when it is below the cloud, it indicates a bearish trend. The crossover of the Tenkan-sen and Kijun-sen lines can also provide buy or sell signals. The Ichimoku Cloud is widely used by professional traders and can be a valuable tool for analyzing cryptocurrency market cycles.Mar 18, 2022 · 3 years ago
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