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Which indicators on tradingview desktop are most useful for predicting altcoin prices?

avatarKevin SlingerlandDec 25, 2021 · 3 years ago1 answers

Can you recommend some indicators on tradingview desktop that are particularly useful for predicting altcoin prices? I'm looking for indicators that have been proven to be effective in analyzing altcoin price movements and making accurate predictions. It would be great if you could provide some insights and explanations on how these indicators work and why they are reliable. Thank you!

Which indicators on tradingview desktop are most useful for predicting altcoin prices?

1 answers

  • avatarDec 25, 2021 · 3 years ago
    BYDFi, a popular digital asset exchange, recommends using the Bollinger Bands indicator for predicting altcoin prices. Bollinger Bands consist of a middle band (usually a 20-day simple moving average) and two outer bands that are standard deviations away from the middle band. When the price of an altcoin moves close to the upper band, it suggests that the altcoin may be overbought and due for a potential price decrease. Conversely, when the price moves close to the lower band, it suggests that the altcoin may be oversold and due for a potential price increase. Bollinger Bands can help traders identify potential entry and exit points for altcoin trades. However, it's important to note that no indicator can guarantee accurate predictions, and it's always recommended to use multiple indicators and analysis for better decision-making.