What RSI settings should I use for swing trading cryptocurrencies?

3 answers

• Apr 02, 2022 · 3 years ago
  When it comes to RSI settings for swing trading cryptocurrencies, there is no one-size-fits-all answer. It depends on the specific cryptocurrency you are trading and your trading strategy. However, a commonly used RSI setting for swing trading is 14 periods. This setting provides a good balance between responsiveness and reliability. Remember to also consider other indicators and factors when making trading decisions.
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• Apr 02, 2022 · 3 years ago
  Using RSI for swing trading cryptocurrencies can be a powerful tool. A popular approach is to set the RSI threshold at 30 for oversold conditions and 70 for overbought conditions. When the RSI crosses above 70, it may indicate that the cryptocurrency is overbought and a potential sell signal. Conversely, when the RSI crosses below 30, it may indicate that the cryptocurrency is oversold and a potential buy signal. However, it's important to note that RSI is just one tool and should be used in conjunction with other technical indicators and analysis.
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• Apr 02, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recommends using a 14-period RSI setting for swing trading cryptocurrencies. This setting has been found to be effective in identifying potential trend reversals and overbought/oversold conditions. However, it's important to note that RSI should not be used in isolation. It should be used in conjunction with other technical indicators and analysis to make informed trading decisions. Remember to always do your own research and consider the specific characteristics of the cryptocurrency you are trading.
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