What is RSI?
The Relative Strength Index (#RSI ) is a technical analysis indicator that appeared in 1978 and was used for predicting the stock market. It has successfully moved into #cryptocurrencies and has become one of the most popular among traders.
The main options for using RSI:
🔘Overbought/oversold, when the indicator is close to its high of 100 points or its low of 0 points;
🔘Divergence/convergence, when the price chart of an asset and the RSI are moving in opposite directions, indicating a possible change in trend.
It is important to remember that the accuracy of RSI prediction depends on its settings, but even so, it does not give a 100% guarantee, just like any other indicator in technical analysis.