$SOL 4 hours: RSI is 24.8, entering oversold territory.
Let's use this reading to break down RSI.
Wilder originally developed RSI for futures markets; today, it's built into virtually every charting tool.
When RSI reaches an extreme, a more prudent response is to first ask yourself: What's the broader trend? Where are the key support levels? Can my position withstand further volatility?
Indicators can fail, so don't skip your stop-loss: deciding in advance what to do if you're wrong is more important than guessing correctly.
#SOL
Let's use this reading to break down RSI.
Wilder originally developed RSI for futures markets; today, it's built into virtually every charting tool.
When RSI reaches an extreme, a more prudent response is to first ask yourself: What's the broader trend? Where are the key support levels? Can my position withstand further volatility?
Indicators can fail, so don't skip your stop-loss: deciding in advance what to do if you're wrong is more important than guessing correctly.
#SOL