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What is the RSI indicator and how is it used in cryptocurrency trading?

avatarAbhinand TkMay 01, 2022 · 3 years ago1 answers

Can you explain what the RSI indicator is and how it is used in cryptocurrency trading? I've heard about it but I'm not sure how it works.

What is the RSI indicator and how is it used in cryptocurrency trading?
Cryptocurrency
RSI Indicator
Trading

1 answers

  • avatarMay 01, 2022 · 3 years ago
    At BYDFi, we also use the RSI indicator in our trading strategies. We find that combining the RSI with other technical indicators, such as moving averages, can provide more accurate signals for entering and exiting trades. However, it's important to note that the RSI is just one tool among many, and it should not be used in isolation. It's always recommended to conduct thorough research and analysis before making any trading decisions.

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