Questions
TagsWhat are the most effective RSI indicator settings for identifying overbought and oversold conditions in the crypto market?
LuckeNov 29, 2021 · 3 years ago1 answersI'm new to cryptocurrency trading and I've heard about the RSI indicator. Can you please explain what RSI is and what are the most effective settings to use for identifying overbought and oversold conditions in the crypto market?
1 answers
- As an expert in the crypto market, I can tell you that the most effective RSI indicator settings for identifying overbought and oversold conditions can vary depending on the specific cryptocurrency and market conditions. However, a commonly used setting is 14 periods. This means that the RSI indicator calculates the average price change over the past 14 periods. A value above 70 suggests overbought conditions, while a value below 30 suggests oversold conditions. Keep in mind that these settings are not set in stone and it's important to consider other factors and indicators when making trading decisions. Remember, trading cryptocurrencies involves risks, so always do your own research and consult with professionals before making any investment decisions.Nov 29, 2021 · 3 years ago
Load 5 more related questions
Related Tags
Hot Questions
- 98
How can I protect my digital assets from hackers?
- 90
How can I minimize my tax liability when dealing with cryptocurrencies?
- 88
What are the best digital currencies to invest in right now?
- 83
What is the future of blockchain technology?
- 77
What are the tax implications of using cryptocurrency?
- 67
How can I buy Bitcoin with a credit card?
- 61
How does cryptocurrency affect my tax return?
- 50
What are the best practices for reporting cryptocurrency on my taxes?