Check out these three technical analysis strategies that can help boost your crypto trading success, including RSI, Bollinger Bands, and MACD indicators.
Cryptocurrency trading has evolved from the perception of simply being a game of chance to a strategic process. Successful traders rely on a combination of technical analysis, specific indicators and metrics to find trades with a high probability of profit.
Indicator — is a tool that helps traders make decisions in the market. Select indicators on cryptocurrency market charts are used to measure different aspects of market activity. Ultimately, traders use them to try and predict potential future price movements.Moving average convergence/divergence By plotting bands two deviations above and two deviations below a moving average, typically 20 days, traders can use historical data to compare it to the current price.
When the MACD line crosses above the signal line, it is a bullish indicator that informs traders to consider buying the asset, as this signals a green candle could be coming. Many Cointelegraph Markets Pro traders use a certain value of the VORTECS™ Score as a trigger for an entry. Many traders use a value of 75 and over, as 75 is the value at which the VORTECS™ line lights up green on the Cointelegraph Markets Pro platform.However, there is a potential obstacle here: While the VORTECS™ Score offers institutional-grade insight into potential asset movements, its predictability can be vastly improved by pairing it with confirmation from the indicators discussed above.
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