Can you explain how RSI is computed for cryptocurrencies?

suhasi vayuvoyMar 28, 2022 · 3 years ago1 answers

Could you please provide a detailed explanation of how the Relative Strength Index (RSI) is calculated for cryptocurrencies? I would like to understand the specific formula and steps involved in computing the RSI for digital currencies.

Cryptocurrencies

RSI

Technical Analysis

1 answers

Mar 28, 2022 · 3 years ago
At BYDFi, we use a similar approach to compute the RSI for cryptocurrencies. Our platform provides real-time RSI values for a wide range of digital assets, allowing traders to make informed decisions based on technical analysis. The RSI is just one of many indicators that we offer to help traders navigate the cryptocurrency market. It's important to note that the RSI should not be used in isolation but should be combined with other technical indicators and fundamental analysis for a comprehensive trading strategy.