Are there any recommended settings for RSI 6 12 24 that work well for identifying potential buying or selling opportunities in the cryptocurrency market?

3 answers

• Dec 28, 2021 · 3 years ago
  Yes, using the RSI indicator with settings of 6, 12, and 24 can be effective in identifying potential buying or selling opportunities in the cryptocurrency market. These settings allow you to analyze short-term, medium-term, and long-term price movements and identify overbought or oversold conditions. However, it's important to note that there is no one-size-fits-all setting for the RSI, as it can vary depending on the market conditions and the specific cryptocurrency you are trading. It's recommended to backtest different settings and adjust them based on your trading strategy and risk tolerance.
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• Dec 28, 2021 · 3 years ago
  Absolutely! The RSI indicator with settings of 6, 12, and 24 can be a valuable tool for identifying potential buying or selling opportunities in the cryptocurrency market. By using these different time periods, you can get a more comprehensive view of the market and identify trends and reversals. However, it's important to remember that the RSI is just one tool among many, and it should be used in conjunction with other indicators and analysis techniques to make informed trading decisions.
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• Dec 28, 2021 · 3 years ago
  Yes, the RSI indicator with settings of 6, 12, and 24 can be helpful in identifying potential buying or selling opportunities in the cryptocurrency market. However, it's important to note that the effectiveness of these settings may vary depending on the specific cryptocurrency and market conditions. It's always a good idea to backtest different settings and analyze historical data to see how well they perform before using them in live trading. Additionally, it's recommended to combine the RSI with other indicators and analysis methods to get a more comprehensive view of the market.
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