Indicator note｜$WAL ｜Daily RSI(14) 76.4｜Overbought
First, a definition: RSI readings for the same coin can vary considerably across timeframes. When the 4-hour chart is overbought, the higher timeframes may still be in the middle of their ranges.
Next, how to read it: “Divergence” is a commonly discussed way to interpret RSI. If the price makes a new high but RSI does not, this is often seen as a sign of weakening upward momentum—but divergence can also persist for multiple instances.
Don’t change your plan based on a single number, and don’t gamble with borrowed money on a reading.
First, a definition: RSI readings for the same coin can vary considerably across timeframes. When the 4-hour chart is overbought, the higher timeframes may still be in the middle of their ranges.
Next, how to read it: “Divergence” is a commonly discussed way to interpret RSI. If the price makes a new high but RSI does not, this is often seen as a sign of weakening upward momentum—but divergence can also persist for multiple instances.
Don’t change your plan based on a single number, and don’t gamble with borrowed money on a reading.