Are there any specific RSI settings that work well for swing trading cryptocurrencies?

3 answers

• Dec 18, 2021 · 3 years ago
  When it comes to swing trading cryptocurrencies, there is no one-size-fits-all RSI setting that guarantees success. The optimal RSI settings can vary depending on the specific cryptocurrency, market conditions, and individual trading strategies. However, a commonly used RSI setting for swing trading is 14 periods. This setting provides a good balance between responsiveness and accuracy. It's important to note that RSI should not be used in isolation but rather in conjunction with other technical indicators and analysis to make informed trading decisions.
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• Dec 18, 2021 · 3 years ago
  Swing trading cryptocurrencies can be a profitable strategy, but it's important to understand that there is no magic RSI setting that guarantees success. The effectiveness of RSI settings can vary depending on various factors such as market volatility, trading volume, and the specific cryptocurrency being traded. It's recommended to experiment with different RSI settings and observe how they perform in different market conditions. Additionally, it's crucial to consider other technical indicators and fundamental analysis to make well-informed trading decisions.
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• Dec 18, 2021 · 3 years ago
  As an expert in swing trading cryptocurrencies, I can tell you that finding the perfect RSI setting is a constant challenge. However, at BYDFi, we have found that using a 9-period RSI setting works well for swing trading cryptocurrencies. This setting provides a more sensitive indicator that can help identify potential entry and exit points. It's important to note that RSI should not be the sole factor in your trading strategy. It should be used in conjunction with other indicators and analysis to increase the probability of successful trades.
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