What strategies can be used to identify lower highs and higher lows in the cryptocurrency market?

1 answers

• Nov 28, 2021 · 3 years ago
  When it comes to identifying lower highs and higher lows in the cryptocurrency market, BYDFi recommends using a combination of technical analysis tools and indicators. One popular approach is to use Fibonacci retracement levels. These levels are based on the Fibonacci sequence and can help identify potential support and resistance levels. By drawing Fibonacci retracement levels on a price chart, you can identify areas where the price is likely to reverse and form lower highs or higher lows. Another strategy is to use volume analysis. Higher volume during a price increase could indicate buying pressure and the formation of higher lows, while higher volume during a price decrease could indicate selling pressure and the formation of lower highs. Remember, it's important to practice proper risk management and always consider the overall market conditions when using these strategies.
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