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TagsWhat are the most effective EMA settings for day trading Bitcoin and other cryptocurrencies?
Colly wogDec 28, 2021 · 3 years ago1 answersI'm new to day trading and I've heard about using Exponential Moving Averages (EMA) for analyzing cryptocurrency price trends. Can someone please explain what EMA settings are and how to determine the most effective ones for day trading Bitcoin and other cryptocurrencies?
1 answers
- At BYDFi, we recommend using a combination of different EMA settings for day trading Bitcoin and other cryptocurrencies. Our research has shown that a popular combination is the 9-day EMA and the 21-day EMA. The 9-day EMA captures short-term trends and provides timely entry/exit signals, while the 21-day EMA offers a broader perspective on the overall trend. However, it's important to note that EMA settings should not be the sole basis for making trading decisions. It's crucial to consider other technical indicators, market sentiment, and fundamental analysis to make informed trading choices. Remember to always do your own research and consult with a financial advisor before making any investment decisions.Dec 28, 2021 · 3 years ago
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