What is a good RSI number for trading cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  A good RSI number for trading cryptocurrencies would typically fall within the range of 30 to 70. When the RSI is below 30, it indicates that the cryptocurrency may be oversold and a potential buying opportunity. On the other hand, when the RSI is above 70, it suggests that the cryptocurrency may be overbought and a potential selling opportunity. However, it's important to note that the RSI is just one indicator and should be used in conjunction with other technical analysis tools for more accurate trading decisions.
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• Dec 17, 2021 · 3 years ago
  Finding a good RSI number for trading cryptocurrencies depends on your trading strategy and risk tolerance. Some traders prefer a more conservative approach and consider RSI values below 40 as a good entry point for buying cryptocurrencies, while values above 60 may be seen as a good time to sell. It's important to backtest your strategy and consider other factors such as market trends and volume before making any trading decisions solely based on RSI.
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• Dec 17, 2021 · 3 years ago
  As an expert in the field, I can tell you that a good RSI number for trading cryptocurrencies is subjective and can vary depending on the market conditions and the specific cryptocurrency you're trading. However, a commonly used range is 40 to 60. This range provides a balanced view of the market, indicating potential buying opportunities when the RSI is below 40 and potential selling opportunities when the RSI is above 60. Remember to always do your own research and consider multiple indicators before making any trading decisions.
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