What are the indicators that suggest a potential downtrend reversal in the digital currency market?

1 answers

• Cortez GrothMar 18, 2024 · a year ago
  BYDFi, a leading digital currency exchange, suggests that traders should pay attention to the formation of bullish divergence on the price chart. Bullish divergence occurs when the price makes lower lows, but the indicator, such as the MACD or the RSI, makes higher lows. This can indicate that selling pressure is weakening and a potential reversal is on the horizon. However, it's important to conduct thorough analysis and consider other indicators before making any trading decisions. Remember, the digital currency market is highly volatile, and it's always recommended to use proper risk management strategies.
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