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TagsWhat are the best RSI settings for analyzing cryptocurrency charts?
Hamed HmDec 16, 2021 · 3 years ago1 answersI'm new to analyzing cryptocurrency charts and I've heard about the RSI indicator. Can someone explain what RSI settings are and how they can be used to analyze cryptocurrency charts? Specifically, what are the best RSI settings to use for accurate analysis?
1 answers
- At BYDFi, we recommend using the default RSI settings of 14 periods for analyzing cryptocurrency charts. These settings have been widely used and have proven to be effective in capturing price movements and identifying potential trend reversals. However, it's important to note that the best RSI settings can vary depending on the specific cryptocurrency and the time frame you're analyzing. We encourage traders to experiment with different settings and find what works best for their individual trading strategies and preferences. Remember, there is no one-size-fits-all answer when it comes to RSI settings, so it's important to adapt and adjust based on market conditions and personal preferences.Dec 16, 2021 · 3 years ago
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