Investopedia: The relative strength index (RSI) is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to evaluate overbought or oversold conditions.
Traders use the RSI indicator to scout for bottoms. Generally, the indicator gains more value when used on longer time frames.
If we look at the 3-day RSI, we've rarely been below 30. Out of the past 4 times this happened, 3 of those signaled the end of the bearish trend and a major shift in momentum followed. Be aware that I'm not calling for the bottom to be in yet since we definitely can drop further, but I'm quite certain we'll be seeing a strong reversal in the coming weeks.
Happy trading!
Traders use the RSI indicator to scout for bottoms. Generally, the indicator gains more value when used on longer time frames.
If we look at the 3-day RSI, we've rarely been below 30. Out of the past 4 times this happened, 3 of those signaled the end of the bearish trend and a major shift in momentum followed. Be aware that I'm not calling for the bottom to be in yet since we definitely can drop further, but I'm quite certain we'll be seeing a strong reversal in the coming weeks.
Happy trading!
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📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
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🔥Premium Signals: fierytrading.com
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.