According to the CoinDesk, when it comes to the analysis of the markets, there can be a difference between successful trade from that of the one which is a financial pain which is based on the developing a trading style of your own.
There are a variety of indicators that are used by the traders so as to add to the layers of confirmation to their bias so as to get results that are much more accurate.
However, if one could use just one indicator for the market of crypto-currency then what would that one be and why is the real question.
According to a poll that was conducted by the CoinDesk recently there were revelations that for as many as 39 percent of the respondents, volume was the major indicator.
Whereas securing the second place by garnering 29 percent of the total vote, was the Relative Strength Index.
There were also some great responses for the alternatives which were elicited by the poll like the Elliott Wave Theory, the stochastic oscillator as well as the divergences all of which are very useful in the way of their own right.
However, they all are very dependent upon the technical charting style as well as the experience of the individual.
CoinDesk reached out to some crypto-currency traders as well as chartists who are prominent so as to have a look at what according to them was that one most important indicator that they would fail to live without.
According to the Director of the Business Development and Operations at the Coinigy, Mr. Matt Thompson, volumes that are in hand are undoubtedly the most important aspect apart from the price.
According to the CryptoDog which is a prominent personality on Twitter also stated that volume is a “crucial” element.
Source: CoinDesk, Block Board
