This guide contains my best technical indicators for cryptocurrency trading – copy the tools I use to accurately predict Bitcoin and Etherum – before their prices went up further by 50% after I bought at $6,300 on the Luno platform.
I have been trading Bitcoin and Etherum actively in the past 3-4 months after a friend encouraged me to try the cryptocurrency market. He believed that my good use of technical analysis in the stock market would help me spot trade opportunities more in the crypto-currency market.
Since then, I have generated over 50% profit trading Bitcoin and Etherum. My decision to trade Bitcoin and Etherum isn’t unconnected to the fact that they occupy a larger portion of the cryptocurrency market value and most widely followed by top crypto analyst and financial news websites.
I trade these two cryptocurrencies on the Luno platform via my mobile app, a simple intuitive user-friendly mobile exchange that makes it easy for me to fund my wallet in Naira, then initiate exchange to Bitcoin or Etherum at the current market price with instant execution. On the Luno platform, you fund your verified account with Paystack or PayU payment solutions.
As a technical trader in the stock market, here 3 powerful technical indicators I deployed to spot trends in the cryptocurrency market using Bitcoin as a case study.
21/55-Day Moving Average
This indicator measures the average price of Bitcoin for a specific period of time. I use 21 and 55 simple moving averages to spot market trend; whether it is bullish or bearish. While the 55-day MA tells me how the crypto is trending in the last 3 month, the 21-day MA follows market performance in the last one (1) month.