What are the best RSI settings for trading cryptocurrencies?

3 answers

• Dec 30, 2021 · 3 years ago
  The best RSI settings for trading cryptocurrencies depend on various factors such as the time frame you're trading on and the specific cryptocurrency you're trading. Generally, a common RSI setting used by traders is 14 periods. However, it's important to note that there is no one-size-fits-all answer to this question. It's recommended to experiment with different RSI settings and observe how they perform with your trading strategy. Remember, what works for one trader may not work for another.
  498249
• Dec 30, 2021 · 3 years ago
  When it comes to RSI settings for trading cryptocurrencies, it's important to consider the volatility of the market. Higher RSI settings, such as 21 or 28 periods, can be used for longer time frames and less volatile cryptocurrencies. On the other hand, lower RSI settings, such as 7 or 10 periods, can be used for shorter time frames and more volatile cryptocurrencies. It's also worth noting that RSI settings should not be used in isolation. They should be used in conjunction with other technical indicators and analysis to make informed trading decisions.
  560187
• Dec 30, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using a 14-period RSI setting for trading cryptocurrencies. This setting is widely used by traders and provides a good balance between sensitivity and reliability. However, it's important to note that the best RSI settings can vary depending on individual trading strategies and preferences. It's recommended to backtest different RSI settings and analyze their performance before making any trading decisions. Remember, successful trading requires a combination of technical analysis, risk management, and market research.
  576144