$BTW Daily RSI is 75, in overbought territory, with the current price at 2.2951.
Let’s unpack what this number means.
Mathematically, RS is the average gain divided by the average loss, and RSI = 100 − 100 ÷ (1 + RS). The averages use Wilder smoothing, not a simple arithmetic average.
During a strong uptrend, RSI can stay above 70 for a long time; during a sustained downtrend, it can likewise remain below 30 for a long time. Being overbought or oversold doesn’t mean a reversal is imminent.
It’s more reliable to look for confirmation from several indicators rather than just one, but even more indicators can’t provide a definitive answer.
#BTW
Let’s unpack what this number means.
Mathematically, RS is the average gain divided by the average loss, and RSI = 100 − 100 ÷ (1 + RS). The averages use Wilder smoothing, not a simple arithmetic average.
During a strong uptrend, RSI can stay above 70 for a long time; during a sustained downtrend, it can likewise remain below 30 for a long time. Being overbought or oversold doesn’t mean a reversal is imminent.
It’s more reliable to look for confirmation from several indicators rather than just one, but even more indicators can’t provide a definitive answer.
#BTW