Which indicators are reliable for predicting the best times to buy and sell cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  One reliable indicator for predicting the best times to buy and sell cryptocurrencies is the Relative Strength Index (RSI). RSI measures the speed and change of price movements and can help identify overbought or oversold conditions. When the RSI is above 70, it indicates that the cryptocurrency may be overbought and a sell signal is generated. Conversely, when the RSI is below 30, it suggests that the cryptocurrency may be oversold and a buy signal is generated. However, it's important to note that RSI should not be used in isolation and should be combined with other indicators and analysis for more accurate predictions.
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• Dec 17, 2021 · 3 years ago
  Another reliable indicator for predicting the best times to buy and sell cryptocurrencies is the Moving Average Convergence Divergence (MACD). MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a cryptocurrency's price. When the MACD line crosses above the signal line, it generates a bullish signal, indicating a good time to buy. On the other hand, when the MACD line crosses below the signal line, it generates a bearish signal, indicating a good time to sell. However, like RSI, MACD should be used in conjunction with other indicators and analysis for better accuracy.
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• Dec 17, 2021 · 3 years ago
  As a representative of BYDFi, I can say that one reliable indicator for predicting the best times to buy and sell cryptocurrencies is the Bollinger Bands. Bollinger Bands consist of a middle band, which is a simple moving average, and an upper and lower band that are standard deviations away from the middle band. When the price of a cryptocurrency touches the upper band, it suggests that the cryptocurrency may be overbought and a sell signal is generated. Conversely, when the price touches the lower band, it suggests that the cryptocurrency may be oversold and a buy signal is generated. However, it's important to consider other factors and indicators before making any trading decisions.
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