What are the recommended RSI settings for 1-hour chart analysis in cryptocurrency trading?

3 answers

• Nov 24, 2021 · 3 years ago
  The recommended RSI settings for 1-hour chart analysis in cryptocurrency trading are typically set at 14 periods. This means that the RSI indicator will calculate the average gain and average loss over the past 14 hours. A value above 70 indicates overbought conditions, while a value below 30 indicates oversold conditions. However, it's important to note that these settings can vary depending on the specific cryptocurrency and market conditions. It's always a good idea to backtest different settings and adjust them based on your trading strategy and risk tolerance.
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• Nov 24, 2021 · 3 years ago
  When it comes to RSI settings for 1-hour chart analysis in cryptocurrency trading, there is no one-size-fits-all answer. The recommended settings can vary depending on the volatility and trading volume of the specific cryptocurrency you're analyzing. It's generally a good idea to start with the default setting of 14 periods and then adjust it based on your trading style and preferences. Keep in mind that RSI is just one tool in your trading arsenal, and it's important to consider other indicators and factors when making trading decisions.
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• Nov 24, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using the default RSI settings of 14 periods for 1-hour chart analysis in cryptocurrency trading. However, it's important to note that these settings may not work effectively for all cryptocurrencies and market conditions. It's always a good idea to experiment with different settings and find what works best for your trading strategy. Remember to consider other technical indicators and market factors in conjunction with RSI for a more comprehensive analysis.
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