🐋 $BLESS daily RSI is 80.8, in overbought territory.
RSI itself doesn't determine prices, but many people watch it, and its readings influence a lot of decisions.
The RSI (Relative Strength Index) was introduced by Welles Wilder in 1978. It is calculated using the average gains and average losses over the most recent 14 candlesticks, with results ranging from 0 to 100.
Many people pay more attention to when RSI moves out of overbought or oversold territory—for example, when it falls back below 70 after rising above it—rather than trading against the trend as soon as it enters that range.
Keep plenty of margin for your contract positions, so a single wick doesn't liquidate your trade.
RSI itself doesn't determine prices, but many people watch it, and its readings influence a lot of decisions.
The RSI (Relative Strength Index) was introduced by Welles Wilder in 1978. It is calculated using the average gains and average losses over the most recent 14 candlesticks, with results ranging from 0 to 100.
Many people pay more attention to when RSI moves out of overbought or oversold territory—for example, when it falls back below 70 after rising above it—rather than trading against the trend as soon as it enters that range.
Keep plenty of margin for your contract positions, so a single wick doesn't liquidate your trade.