Are there any specific RSI indicator settings that work well for short-term cryptocurrency trading?

3 answers

• Dec 27, 2021 · 3 years ago
  Yes, there are specific RSI indicator settings that can work well for short-term cryptocurrency trading. One commonly used setting is to consider an asset overbought when the RSI reaches 70 or above, and oversold when it reaches 30 or below. However, it's important to note that these settings may not work perfectly for all cryptocurrencies or in all market conditions. It's always a good idea to backtest different settings and adapt them to the specific cryptocurrency you're trading.
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• Dec 27, 2021 · 3 years ago
  Absolutely! When it comes to short-term cryptocurrency trading, the RSI indicator can be a valuable tool. Some traders find success using a more conservative approach, considering an asset overbought when the RSI reaches 80 or above, and oversold when it reaches 20 or below. Others prefer a more aggressive approach, using 90 and 10 as the overbought and oversold levels. The key is to find the settings that align with your trading strategy and risk tolerance.
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• Dec 27, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, suggests using a slightly different approach for short-term trading with the RSI indicator. They recommend considering an asset overbought when the RSI reaches 75 or above, and oversold when it reaches 25 or below. According to their research, these settings have shown promising results in capturing short-term price movements. However, it's important to note that individual results may vary, and it's always a good idea to conduct your own analysis and adjust the settings based on your trading preferences.
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