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TagsWhat is the meaning of RSI in the crypto market?
Data ScientistDec 18, 2021 · 3 years ago1 answersCan you explain the significance of RSI (Relative Strength Index) in the cryptocurrency market? How does it affect trading decisions and what are the key indicators to look for?
1 answers
- RSI, or Relative Strength Index, is a popular technical indicator used by traders in the crypto market to assess the momentum and strength of price movements. It is calculated based on the average gain and loss of an asset over a specified period of time. RSI values range from 0 to 100, with readings above 70 indicating overbought conditions and readings below 30 indicating oversold conditions. Traders often use RSI to identify potential trend reversals and make trading decisions. However, it's important to note that RSI should not be used in isolation and should be combined with other indicators and analysis techniques for better accuracy and confirmation of signals.Dec 18, 2021 · 3 years ago
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