Which cryptocurrencies have shown a strong correlation with normalized MACD in the past?

3 answers

• Apr 29, 2022 · 3 years ago
  Bitcoin and Ethereum have historically shown a strong correlation with normalized MACD. When the MACD line crosses above the signal line, it indicates a bullish signal, and vice versa. This correlation can be used by traders to make informed decisions on when to buy or sell these cryptocurrencies. However, it's important to note that past performance does not guarantee future results.
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• Apr 29, 2022 · 3 years ago
  Over the years, several cryptocurrencies have displayed a notable correlation with normalized MACD. Some examples include Ripple, Litecoin, and Bitcoin Cash. Traders often use MACD as a tool to identify potential trend reversals and generate trading signals. It's worth mentioning that while correlation can provide insights, it should not be the sole basis for investment decisions. Other factors such as market conditions and fundamental analysis should also be considered.
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• Apr 29, 2022 · 3 years ago
  According to a study conducted by BYDFi, a digital currency exchange, Bitcoin, Ethereum, and Ripple have consistently shown a strong correlation with normalized MACD. This correlation indicates that these cryptocurrencies tend to follow similar trends when it comes to market momentum. Traders can use this information to identify potential trading opportunities and manage their risk accordingly. However, it's important to conduct thorough research and consider other technical indicators before making any investment decisions.
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