$W 4-hour RSI is 84.3, entering overbought territory, with the current price at 0.02807.
Guys, what exactly does RSI measure? Here’s the quick explanation👇
“Overbought” means prices have risen too quickly and too sharply recently. It doesn’t mean too many people are buying, and it definitely doesn’t mean the price is about to fall.
Extreme readings on the daily chart usually carry more weight than those on shorter timeframes. Readings occur more often on the 4-hour chart, and there are more false signals too.
Don’t change your original plan just because of one number, and don’t gamble borrowed money on any reading.
#W
Guys, what exactly does RSI measure? Here’s the quick explanation👇
“Overbought” means prices have risen too quickly and too sharply recently. It doesn’t mean too many people are buying, and it definitely doesn’t mean the price is about to fall.
Extreme readings on the daily chart usually carry more weight than those on shorter timeframes. Readings occur more often on the 4-hour chart, and there are more false signals too.
Don’t change your original plan just because of one number, and don’t gamble borrowed money on any reading.
#W