My preferred technical analysis tools for crypto
I'm still new and still learning more about the Technical Analysis. Right now, here are the tools that I am using:
Bollinger Band
Based on Investopia, Bollinger Band is a simple analysis using the concept of standard deviations against the simple moving average. The Bolling Band has been widely used as a basic tool for technical analysis, to identify the "oversold" and "overbought situation"
Sample chart by Investopia
The Bolling Band is simply the two line from the SMA.
RSI
The next indicator is The Relative Strenght Index, which indicantes the momentum of overbought or oversold in the market. You can read more about it here
MACD
The last one that Im using, acutally, I'm studying is MACD. This indicator uses the 26-day and 12-day EMA (exponential moving average) and combined them together to predict and give estimation on the market movement.
The MACD, used with RSI and BB can give a hint on the market situation, which can signal a Buy or a Sell.
You can learn more about the MACD here
Source: Investorpia
So, what indicators are you using?
Congratulations @coinbrew! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
You published your First Post
You made your First Vote
You got a First Vote
Award for the number of upvotes received
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOP
To support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Semi Finals - Day 1
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Congratulations @coinbrew! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Award for the number of upvotes received
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Semi Finals - Day 1
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes