What are the best techniques for drawing on TradingView to analyze cryptocurrency trends?

3 answers

• Dec 19, 2021 · 3 years ago
  Sure, drawing tools on TradingView can be really helpful for analyzing cryptocurrency trends. One technique is to use trendlines to identify support and resistance levels. By drawing trendlines on the price chart, you can see where the price is likely to bounce or break through. Another technique is to use Fibonacci retracement levels. These levels can help you identify potential areas of support or resistance based on the Fibonacci sequence. Additionally, you can use horizontal lines to mark important price levels and channels to identify trend continuation or reversal patterns. Experiment with different drawing tools and find the ones that work best for your analysis.
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• Dec 19, 2021 · 3 years ago
  Drawing on TradingView is a great way to visually analyze cryptocurrency trends. One technique is to use the 'Pitchfork' tool, which allows you to draw parallel lines that can help identify potential support and resistance levels. Another technique is to use the 'Gann Fan' tool, which helps identify key price levels and potential trend lines. Additionally, you can use the 'Rectangle' tool to mark areas of consolidation or breakout zones. Don't forget to use the 'Text' tool to add annotations and notes to your charts. Remember, practice makes perfect, so keep experimenting with different drawing techniques to improve your analysis skills.
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• Dec 19, 2021 · 3 years ago
  When it comes to drawing on TradingView for cryptocurrency analysis, BYDFi offers some unique features. With BYDFi, you can use the 'Smart Drawing' tool, which automatically detects and draws trendlines, support and resistance levels, and other important chart patterns. This can save you time and help you focus on analyzing the trends rather than manually drawing them. Additionally, BYDFi provides a wide range of technical indicators and overlays that can be easily applied to your charts. These tools can enhance your analysis and provide valuable insights into cryptocurrency trends. Give BYDFi a try and see how it can improve your trading experience.
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