Bitcoin and weekly RSI
The 50 RSI on longer timeframes marks the line between a bull and a bear market. Whether we break or hold is still up to see.
I often hear that the RSI means overbought and oversold which is simply an unnuanced explination.
The RSI is a momentum indicator: Relative Strength Index .
When the RSI reaches overbought zone price will more often than not extend lower beyond that point. What you want to look for on the shorter timeframes is divergences between price and momentum.
Needless to say an indicator alone will not make you a profitable trader. The real playout is hindsight and as a trader we have to make bets based on our analysis and more importantly manage our risk well.
I often hear that the RSI means overbought and oversold which is simply an unnuanced explination.
The RSI is a momentum indicator: Relative Strength Index .
When the RSI reaches overbought zone price will more often than not extend lower beyond that point. What you want to look for on the shorter timeframes is divergences between price and momentum.
Needless to say an indicator alone will not make you a profitable trader. The real playout is hindsight and as a trader we have to make bets based on our analysis and more importantly manage our risk well.
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