Technical Note | $ETH | Daily RSI(14) 24.4 | Oversold
First, the definition: “overbought” means that prices have risen too quickly and sharply recently. It does not mean there are too many buyers, nor does it mean prices are about to fall.
Now, how to read it: “oversold” simply means prices have fallen quickly and sharply lately. They may rebound afterward, or they may consolidate near the lows for a while before choosing a direction.
Don’t place an order at the moment of greatest volatility. Wait for the candlestick to settle before deciding.
#ETH
First, the definition: “overbought” means that prices have risen too quickly and sharply recently. It does not mean there are too many buyers, nor does it mean prices are about to fall.
Now, how to read it: “oversold” simply means prices have fallen quickly and sharply lately. They may rebound afterward, or they may consolidate near the lows for a while before choosing a direction.
Don’t place an order at the moment of greatest volatility. Wait for the candlestick to settle before deciding.
#ETH