What are the best tradingview support and resistance indicators for cryptocurrencies?

7 answers

• Dec 26, 2021 · 3 years ago
  One of the best support and resistance indicators for cryptocurrencies on TradingView is the Fibonacci retracement tool. It helps identify potential levels of support and resistance based on the Fibonacci sequence. By drawing the retracement levels on the chart, you can anticipate where the price might reverse or consolidate. It's a popular tool among traders and can be used in conjunction with other indicators for better accuracy.
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• Dec 26, 2021 · 3 years ago
  In my experience, the Ichimoku Cloud indicator is highly effective for identifying support and resistance levels in the cryptocurrency market. It provides a comprehensive view of the price action, including support and resistance zones, trend direction, and momentum. The cloud component of the indicator is particularly useful for visualizing key levels. Give it a try and see how it works for you!
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• Dec 26, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers a range of support and resistance indicators on TradingView. These indicators are specifically designed for cryptocurrencies and have been developed by experienced traders. They provide valuable insights into the market dynamics and can help you make more informed trading decisions. I highly recommend checking out BYDFi's indicators if you're serious about trading cryptocurrencies.
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• Dec 26, 2021 · 3 years ago
  Another great support and resistance indicator for cryptocurrencies on TradingView is the Volume Profile. It displays the volume traded at each price level, allowing you to identify areas of high and low interest. These levels often act as support and resistance, as they represent areas where traders have shown significant interest in the past. By incorporating volume analysis into your trading strategy, you can gain a better understanding of the market sentiment and make more accurate predictions.
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• Dec 26, 2021 · 3 years ago
  When it comes to support and resistance indicators for cryptocurrencies on TradingView, you can't go wrong with the Moving Averages. They are widely used by traders to identify key levels of support and resistance. The most common moving averages used are the 50-day and 200-day moving averages. When the price is above the moving average, it can act as support, and when the price is below, it can act as resistance. Experiment with different moving averages and timeframes to find the best combination for your trading style.
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• Dec 26, 2021 · 3 years ago
  If you're looking for a simple yet effective support and resistance indicator for cryptocurrencies on TradingView, try the Horizontal Line tool. It allows you to manually draw horizontal lines on the chart to mark key levels of support and resistance. This tool is particularly useful for identifying historical price levels that have acted as barriers in the past. It's a straightforward approach that can be combined with other indicators for more accurate analysis.
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• Dec 26, 2021 · 3 years ago
  The Bollinger Bands indicator is another popular choice for identifying support and resistance levels in the cryptocurrency market. It consists of three lines: the middle band, which is a moving average, and the upper and lower bands, which are based on standard deviations. When the price approaches the upper band, it can act as resistance, and when it approaches the lower band, it can act as support. The bands dynamically adjust to market volatility, making them useful in different market conditions.
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