How to know if this is a good place to buy or sell
These tools:
It is available on the Binance platform, you can use it
1. Technical indicators:
• RSI (Relative Strength Index):
• If the RSI is below 30, it indicates an oversold condition (buying opportunity).
• If the RSI is above 70, it indicates an overbought condition (selling opportunity).
• Stochastic RSI:
• If the Stochastic RSI is close to 0 (oversold zone), it indicates a buying opportunity.
• If it is close to 100 (overbought area), it indicates a selling opportunity.
• MACD:
• If the MACD line (yellow) crosses the signal line (blue) upwards, this is a buy signal.
• If it crosses downwards, it is a sell signal.
2. Volume:
• High volumes as the price rises mean 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 zone: 1,962 – 1,970 USDT (sell at these levels if momentum weakens).
4. Additional signals (Parabolic SAR):
• Yellow dots:
• If it is below the candles, it indicates an uptrend (buying continuation).
• If it is above the candles, it indicates a downtrend (continuation of selling).
Disclaimer: Contains third party opinions. Not financial advice. May contain sponsored content. See terms and conditions.
