Market Notes｜$ELSA ｜Daily RSI(14) 78.3｜Overbought
First, a definition: RSI readings for the same coin can vary significantly across timeframes. When the reading is high on a shorter timeframe, it may still be in the middle range on a longer one.
Next, how to read it: When RSI reaches an extreme zone, a more prudent response is to first consider the overall direction, where key support lies, and whether your position can withstand further volatility.
Leave more margin for leveraged positions. Don’t let a sudden move wipe out your position.
#ELSA
First, a definition: RSI readings for the same coin can vary significantly across timeframes. When the reading is high on a shorter timeframe, it may still be in the middle range on a longer one.
Next, how to read it: When RSI reaches an extreme zone, a more prudent response is to first consider the overall direction, where key support lies, and whether your position can withstand further volatility.
Leave more margin for leveraged positions. Don’t let a sudden move wipe out your position.
#ELSA
