What is the recommended RSI length for day trading in the cryptocurrency market?

3 answers

• Nov 24, 2021 · 3 years ago
  The recommended RSI length for day trading in the cryptocurrency market is typically 14. This length is widely used and considered to be a good balance between responsiveness and reliability. A shorter RSI length, such as 7, may provide more frequent signals but can also generate more false positives. On the other hand, a longer RSI length, such as 21 or 28, may filter out some noise but can result in delayed signals. Ultimately, the choice of RSI length depends on the trader's preference, trading style, and the specific cryptocurrency being traded.
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• Nov 24, 2021 · 3 years ago
  In my experience, I have found that using a shorter RSI length of 7 works well for day trading in the cryptocurrency market. This shorter length allows for more frequent signals, which can be advantageous in a volatile market. However, it's important to note that using a shorter RSI length may also result in more false signals, so it's crucial to use other indicators and confirmatory signals to validate the trading decisions.
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• Nov 24, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, suggests using a 14-day RSI length for day trading in the cryptocurrency market. This length has been proven to provide reliable signals and is widely used by professional traders. However, it's important to remember that the RSI length is just one factor to consider in day trading strategies. Traders should also analyze other indicators, market trends, and news events to make informed trading decisions.
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