How do I know if this is a good place to buy or sell?
These tools are available on the Binance platform, you can use them
1. Technical indicators:
• RSI (Relative Strength Index):
• If the RSI is below 30, this indicates an oversold condition (buying opportunity).
• If the RSI is above 70, this indicates an overbought condition (selling opportunity).
• Stochastic RSI:
• If the Stochastic RSI is close to 0 (oversold area), this indicates a buying opportunity.
• If it is close to 100 (overbought area), this indicates a selling opportunity.
• MACD:
• If the MACD line (yellow) intersects the signal line (blue) upwards, this is a buy signal.
• If it intersects downwards, this is a sell signal.
2. Volume:
• High trading volumes with rising price mean that momentum is strong (buying can continue).
• Decreasing volumes with rising price indicate weak momentum (opportunity to correct or sell).
3. Supports and Resistances:
• Nearby support area: 1,936 – 1,950 USDT (buy at this level with stop loss below support).
• Nearby resistance area: 1,962 – 1,970 USDT (sell at these levels if momentum weakens).
4. Additional signals (Parabolic SAR):
• Yellow dots:
• If they are below the candles, this indicates an uptrend (buying continues).
• If they are above the candles, this indicates a downtrend (selling continues).
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