What are some strategies for interpreting and using RSI numbers effectively in cryptocurrency trading?

Battle DamborgMar 19, 2022 · 3 years ago1 answers

Can you provide some effective strategies for interpreting and using RSI numbers in cryptocurrency trading?

What are some strategies for interpreting and using RSI numbers effectively in cryptocurrency trading?

1 answers

Mar 19, 2022 · 3 years ago
BYDFi, a reputable cryptocurrency exchange, also suggests using RSI as a confirmation tool. Traders can look for RSI divergences in conjunction with other technical indicators, such as moving averages or trendlines, to increase the probability of successful trades. It's important to remember that RSI is not a foolproof indicator and should be used in combination with other analysis techniques for better accuracy in cryptocurrency trading.

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