The importance of monitoring basic technical indicators 👀
The averages simply give you an idea of whether the price performance of this currency is better than its previous performance or not. I mean, if we put the simple average MA and chose the average number 20, that is, give me the performance of this currency compared to its last 20 candles, was the performance better? (Do you want to see the currency price above the average) or worse? (At that time, you want to see the price of the currency lower than the average.) The larger the interval and the larger the reading of the average gives you a better reading, meaning the average of 200 over a monthly interval is stronger than the average of 10 over an interval of half an hour. Simply and quickly, keep this information in mind 1️⃣ Do not trade in a currency that is lower than its average. Monthly or weekly, especially on large averages of 50 and above 2️⃣ The ideal situation for the averages is to be arranged in the correct form, meaning that at the beginning you get the 200 and above it the 100, then after that the 50 until you reach the price, and this is the ideal situation for the 3️⃣ averages. The price, whether it likes it or not, must revisit the averages and often bounce back from them in order (note the attached picture For Bitcoin) 4️⃣ In the attached picture for Bitcoin, I put my settings for the MA 20 50 100 2005️⃣ Notice how it rebounded after touching them, and I expect the next correction to visit and touch the MA 2006️⃣ Averages are considered moving resistances or supports (depending on the price location) 8️⃣ Averages and indicators are important, but they are never a substitute for technical analysis in The attached picture is the status of Bitcoin $BTC . Look at its respect for the averages. For your information, we are at the monthly interval. This is the first time in a year with #BTC on it. It closes in two cases: 1 - A green candle above the 10,202 averages - It swallows negativity for more than 15 months. I expect it to return to testing the 100 average after a short upward wave, I swear. I know, make averages one of your filters and initial research. May you always be kind 🌹