BINANCE:BTCUSDT In this post, I'll make an attempt to share everything I've learned over the Relative Strength Index (RSI) Over the past 24 months. Nothing described in this post is financial advice, it's just me, sharing thoughts and ideas with you. nb: this post is more suited for traders and investors that are already educated about the RSI...
The RSI is a versatile indicator, and can be used to provide entry signals during a trend. To get the signals a moving average is applied to the RSI. 1. Trades are only taken in the direction of the trend. For an uptrend only take longs. For a downtrend only take shorts (puts). 2. During a downtrend the RSI must move above 60 to indicate a pullback. When the...
Ive noticed that when : 1The RSI hits below 30 on the 30min sometimes 1hr time frame 2Then goes up to just before 70 ...say 67 on the RSI 3Then drops again to 25-29 THAT'S A BUY I think that would indicate a breakout to the upside. The RSI will go up and down in wave patterns. This doesn't mean the price will follow. BE CAREFUL. So, if it has to hit 70 on the...