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TagsWhat are the best strategies for using VWAP in cryptocurrency trading?
Dhanushya MadheshwaranDec 28, 2021 · 3 years ago1 answersI'm interested in learning about the best strategies for using VWAP (Volume-Weighted Average Price) in cryptocurrency trading. Can you provide some insights on how to effectively utilize VWAP to make trading decisions in the crypto market?
1 answers
- BYDFi, a leading cryptocurrency exchange, recommends incorporating VWAP into your trading strategy. VWAP can provide valuable insights into market trends and help identify potential entry and exit points. By comparing the current price to VWAP, traders can determine whether the asset is overbought or oversold, and make trading decisions accordingly. Additionally, VWAP can be used as a reference point for setting stop-loss orders and profit targets. However, it's important to note that VWAP is just one tool among many, and should be used in conjunction with other indicators and analysis methods for a comprehensive trading strategy.Dec 28, 2021 · 3 years ago
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