What are the recommended parameters for using the RSI indicator in cryptocurrency investments?

1 answers

• Dec 17, 2021 · 3 years ago
  At BYDFi, we recommend using a period of 14 for the RSI indicator in cryptocurrency investments. This is a widely accepted value that provides a good balance between responsiveness and reliability. For the overbought level, a value of 70 is commonly used, indicating a potential sell signal. Similarly, an oversold level of 30 is often used as a buy signal. However, it's important to note that these parameters should not be used in isolation. It's crucial to consider other indicators, market trends, and risk management strategies when making investment decisions in the cryptocurrency market.
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