What are the top support and resistance indicators used by cryptocurrency traders on TradingView?

3 answers

• LazyWalrusJan 24, 2021 · 4 years ago
  One of the top support and resistance indicators used by cryptocurrency traders on TradingView is the Moving Average (MA). The MA helps identify key levels of support and resistance by smoothing out price data over a specified period. Traders often use the 50-day and 200-day moving averages to identify long-term support and resistance levels. The advantage of using MAs is that they provide a visual representation of the trend and can help traders make informed decisions based on price movements.
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• Dugan HuntOct 22, 2022 · 3 years ago
  Another popular indicator is the Fibonacci retracement tool. This tool is based on the Fibonacci sequence and is used to identify potential support and resistance levels. Traders draw lines between significant price points and the tool automatically calculates the retracement levels. The advantage of using Fibonacci retracement is that it can help traders identify areas where price is likely to reverse or consolidate.
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• Burris GoodmanApr 04, 2023 · 2 years ago
  BYDFi, a leading cryptocurrency exchange, offers a wide range of support and resistance indicators on its trading platform. Traders can choose from popular indicators such as the Bollinger Bands, Relative Strength Index (RSI), and Stochastic Oscillator. These indicators provide valuable insights into market trends and can help traders make informed decisions. Additionally, BYDFi's platform offers customizable charting tools that allow traders to create their own support and resistance indicators based on their unique trading strategies.
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