What are the best RSI settings for swing trading in the cryptocurrency market?

3 answers

• Dec 19, 2021 · 3 years ago
  The best RSI settings for swing trading in the cryptocurrency market can vary depending on the specific cryptocurrency you are trading and the time frame you are using. Generally, a common RSI setting for swing trading is 14 periods. This means that the RSI indicator will calculate the relative strength index based on the last 14 periods of price data. However, it's important to note that different traders may have different preferences and strategies, so it's always a good idea to backtest different RSI settings and see what works best for you.
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• Dec 19, 2021 · 3 years ago
  When it comes to RSI settings for swing trading in the cryptocurrency market, there is no one-size-fits-all answer. It really depends on your trading style and the specific cryptocurrency you are trading. Some traders prefer shorter RSI periods, like 9 or 10, for faster and more frequent trading signals, while others prefer longer periods, like 20 or 30, for smoother and more reliable signals. It's also important to consider the volatility of the cryptocurrency market and adjust your RSI settings accordingly. Experiment with different settings and find what works best for you.
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• Dec 19, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using a 14-period RSI for swing trading in the cryptocurrency market. This setting provides a good balance between responsiveness and reliability. However, it's important to note that RSI is just one tool among many, and it's always a good idea to use it in conjunction with other indicators and analysis techniques to make well-informed trading decisions. Remember, the best RSI setting for swing trading may vary depending on market conditions and individual preferences.
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