$SIREN 4-hour RSI is 76.2, in overbought territory, with the current price at 0.03857.
When I was first learning technical analysis, I’d sell as soon as I saw an overbought RSI. It took me a while to understand that an RSI above 70 is called “overbought” simply because recent gains make up a large share of price movements. In a one-way market, it can stay elevated for a long time; being overbought alone is not a reason to exit.
Keep extra margin for your futures positions so a single wick doesn’t liquidate them.
Markets can change in an instant. Make your own decisions.
When I was first learning technical analysis, I’d sell as soon as I saw an overbought RSI. It took me a while to understand that an RSI above 70 is called “overbought” simply because recent gains make up a large share of price movements. In a one-way market, it can stay elevated for a long time; being overbought alone is not a reason to exit.
Keep extra margin for your futures positions so a single wick doesn’t liquidate them.
Markets can change in an instant. Make your own decisions.