$GTC The daily RSI is 75.1, entering overbought territory.
Let's use this number to break down RSI.
“Overbought” means prices have risen too quickly and sharply in the short term. It doesn't mean there are too many buyers, nor does it mean prices are about to fall.
“Divergence” is a commonly discussed use of RSI: when the price reaches a new high but RSI doesn't, it's often seen as a sign that upward momentum is weakening. However, divergence can persist through multiple occurrences.
Understanding an indicator helps you avoid being spooked by a single number; it isn't a way to predict price movements with certainty.
#GTC
Just sharing some thoughts—make your own decisions about buying and selling.
Let's use this number to break down RSI.
“Overbought” means prices have risen too quickly and sharply in the short term. It doesn't mean there are too many buyers, nor does it mean prices are about to fall.
“Divergence” is a commonly discussed use of RSI: when the price reaches a new high but RSI doesn't, it's often seen as a sign that upward momentum is weakening. However, divergence can persist through multiple occurrences.
Understanding an indicator helps you avoid being spooked by a single number; it isn't a way to predict price movements with certainty.
#GTC
Just sharing some thoughts—make your own decisions about buying and selling.