$ICNT Daily RSI is 76.8, entering overbought territory.
Let's use this data to talk about RSI.
Simply put, RSI measures how much of the total movement over a recent period comes from gains: the larger and sharper the gains, the closer RSI gets to 100.
Oversold just means prices have fallen too quickly and sharply during this period. They may rebound afterward, or they may move sideways near the lows for a while before recovering.
Keep extra margin for leveraged positions so a single wick doesn't wipe them out.
Let's use this data to talk about RSI.
Simply put, RSI measures how much of the total movement over a recent period comes from gains: the larger and sharper the gains, the closer RSI gets to 100.
Oversold just means prices have fallen too quickly and sharply during this period. They may rebound afterward, or they may move sideways near the lows for a while before recovering.
Keep extra margin for leveraged positions so a single wick doesn't wipe them out.