Are there any specific RSI settings that work well for swing trading crypto?

3 answers

• Dec 27, 2021 · 3 years ago
  When it comes to swing trading crypto, the RSI indicator can indeed be helpful. The specific RSI settings that work well can vary depending on the market conditions and the cryptocurrency you're trading. However, a common approach is to use a 14-period RSI and set the overbought level at 70 and the oversold level at 30. These levels indicate potential reversal points in the price trend. It's important to note that RSI is just one tool among many, and it's always recommended to use it in conjunction with other indicators and analysis techniques for a more comprehensive trading strategy.
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• Dec 27, 2021 · 3 years ago
  Swing trading crypto involves capturing short-term price movements, and the RSI indicator can assist in identifying overbought and oversold conditions. While there are no specific RSI settings that guarantee success, many traders use a 14-period RSI as a starting point. However, it's crucial to adapt the settings to the specific cryptocurrency you're trading and the market conditions. Keep in mind that RSI is not a standalone solution and should be used in combination with other technical analysis tools to make informed trading decisions.
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• Dec 27, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, suggests using a 14-period RSI for swing trading crypto. The overbought level is typically set at 70, indicating a potential sell signal, while the oversold level is set at 30, indicating a potential buy signal. However, it's important to remember that these settings are not universally applicable and should be adjusted based on the specific cryptocurrency and market conditions. Additionally, it's recommended to combine RSI with other indicators and analysis methods to increase the accuracy of your trading strategy.
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