What is the best RSI length for day trading cryptocurrencies?

3 answers

• Dec 20, 2021 · 3 years ago
  The best RSI length for day trading cryptocurrencies can vary depending on the market conditions and the trading strategy you are using. Generally, a shorter RSI length, such as 14 or 9, is commonly used for day trading as it provides more frequent signals. However, it's important to note that a shorter RSI length may generate more false signals, so it's crucial to combine it with other indicators and analysis techniques to confirm the signals.
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• Dec 20, 2021 · 3 years ago
  In my experience, I have found that a longer RSI length, such as 21 or 25, can be more reliable for day trading cryptocurrencies. This is because a longer RSI length smooths out the price fluctuations and provides more accurate signals. However, it's important to adapt the RSI length to the specific cryptocurrency you are trading, as different cryptocurrencies may have different price patterns and volatility.
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• Dec 20, 2021 · 3 years ago
  At BYDFi, we recommend using a 14-period RSI for day trading cryptocurrencies. This length has been found to be effective in capturing short-term price movements and identifying overbought or oversold conditions. However, it's important to remember that the RSI is just one tool in your trading arsenal, and it should be used in conjunction with other technical indicators and analysis methods to make informed trading decisions.
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