RSI & MACD – Tools to Use for Picking Right Altcoin

SmartOptions is an online platform for investors who choose crypto coins as investment option. This is new form of investment and no easy because of much is not known to investors about this trade. But you can’t be a loser in this trade. When you sense regression in forex or stock trade, you can divert your investment towards crypto. Bitcoin, the leader of crypto coins has already made its place in crypto world and some altcoins are following Bitcoin.

Why online platform

There is a good reason to be on because you don’t have enough knowledge to do research on thousands of altcoins that flood crypto world and without research, you can’t select right altcoins that have worth by acquiring and later converting to Bitcoin units. The straightaway buying of Bitcoin won’t be easy for everyone because each Bitcoin unit has high price but converting several units of some altcoin to Bitcoin later is probably a good solution.

DYOR tools

Do You Own Research (DYOR) can help you achieve your goals and this helps to pick the right altcoins? There are tools to use on this platform that can be used in simple way without writing code lines, developing some bots, etc. You can randomly pick a coin you’re interested in and which you want to study on exchange of your choice. When you are on this platform, the tools help you evaluate the token offered in exchange of your legal tender. You can use Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) tools. RSI is a yardstick between 0 and 100 to measure the coin strength based on past trends. The index in range 70-100, the highish indicates that price might go down. The index in range 0-30, the bottomish indicates that price might go up and is good to buy. MACD has two curves – blue and yellow with red space between the two. A blue line supposed to cross the yellow one with lot of space to go up indicates price and volume increase.