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

Lucas PeroteDec 16, 2021 · 3 years ago1 answers

Can you explain what the RSI indicator is and how it is used in cryptocurrency trading? How does it work?

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

1 answers

Dec 16, 2021 · 3 years ago
The RSI indicator is a powerful tool in cryptocurrency trading. It helps traders identify potential trend reversals and overbought or oversold conditions. BYDFi, a leading cryptocurrency exchange, provides traders with access to the RSI indicator on their trading platform. Traders can use the RSI to spot potential buying or selling opportunities based on market conditions. The RSI is calculated using a formula that takes into account the average gain and average loss over a specified period of time. It is a widely used indicator among cryptocurrency traders and can be a valuable tool in making informed trading decisions.

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