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The importance of technical analysis in Bitcoin’s cash trade (BCH)
A technical analysis plays a decisive role in the world of cryptography in the world of cryptocurrency trade to make informed decisions about the purchase and sale of assets such as Bitcoin Cash (BCH). As one of the most widespread cryptocurrencies, BCH is constantly developing and its price movements can be affected by several factors. In this article, we will examine the importance of the technical analysis in the BCH trade and the way in which merchants can help make better decisions.
What is technical analysis?
Technical analysis is a method to evaluate the prices and trends of actions based on data and historical patterns. It includes examining graphics and other graphic data forms to identify trends, formulas and potential opportunities to buy or sell. In the context of cryptoma trade, technical analysis includes the analysis of price graphics, technical indicators and other market metric to make informed decisions.
Why the technical analysis is important in the BCH trade
Cryptoma trade, such as BCH, requires a deep understanding of markets and their basic factors. Technical analysis helps merchants identify trends, formulas and potential risks that can be used to inform commercial decisions. Here are several reasons why the technical analysis is essential for merchants who want to buy or sell BCH:
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Input and output points : The technical analysis allows merchants to establish the entry and exit points based on their graphic analysis, which helps them reduce losses and maximize profits.
- Potential commercial strategies : Merchants can use technical analysis to develop commercial strategies that include various formulas, such as heads and shoulders, triangles or wedges.
KEY TECHNICAL INDICATORS FOR BCH
Some key technical indicators that merchants often use in the BCH trade include:
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- Divergence of sliding diameter convergence (MACD) : An indicator that portrays the difference between two sliding diameters, helping to identify trends and potential interruptions.
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- The level of support and resistance : Merchants use the following indicators to configure columns and profit levels based on past prices.
PROCEDURES PROCEDURES TO USE THE TECHNICAL ANALYSIS IN THE BCH
To get the maximum of the technical analysis when trade with BCH, follow these proven procedures:
- Use a combination of indicators : Do not trust a single indicator; Instead, use a combination of indicators to create a complete market image.
- Pay attention to graphics patterns : Look for patterns such as heads and shoulders, triangles or wedges that can be used to identify trends and possible ruptures.
- Set clear points and output points : According to your analysis, establish the input and output points of clear to limit losses and maximize profits.
- Use graphics and other market data : Take the time to study the graph and other market data before making a commercial decision.
Conclusion
Technical analysis is an essential tool for merchants who want to make informed decisions about the purchase or sale of BCH. By using technical indicators such as RSI, MacD, Bollinger Bands and support and resistance levels, merchants can identify trends, formulas and potential risks that can inform about their commercial decisions.
