Indicator Notes | $W | 4-hour RSI (14) 84.3 | Overbought
First, the definition: RSI readings for the same coin can vary considerably across different timeframes. When the reading is high on a shorter timeframe, the daily chart may still be in the middle range.
Next, how to read it: Extreme readings on longer timeframes generally carry more weight than those on the 4-hour timeframe. Readings occur more often on the 4-hour chart, so there are also more false signals.
The same reading can mean completely different things in different market conditions, so don’t apply a rule of thumb blindly.
First, the definition: RSI readings for the same coin can vary considerably across different timeframes. When the reading is high on a shorter timeframe, the daily chart may still be in the middle range.
Next, how to read it: Extreme readings on longer timeframes generally carry more weight than those on the 4-hour timeframe. Readings occur more often on the 4-hour chart, so there are also more false signals.
The same reading can mean completely different things in different market conditions, so don’t apply a rule of thumb blindly.