$BTC Daily RSI is 25, in oversold territory.
Let’s break this number down.
Simply put, RSI measures how much of the total price movement over a recent period came from gains: the stronger and more sustained the gains, the closer RSI gets to 100.
Oversold only means prices have fallen too quickly and sharply during this period. They might rebound, or they might churn near the lows for a while before choosing a direction.
Don’t place an order during the most volatile moment. Wait for the candlestick to close before taking another look.
This view is for discussion only. You are responsible for any profits or losses.
Let’s break this number down.
Simply put, RSI measures how much of the total price movement over a recent period came from gains: the stronger and more sustained the gains, the closer RSI gets to 100.
Oversold only means prices have fallen too quickly and sharply during this period. They might rebound, or they might churn near the lows for a while before choosing a direction.
Don’t place an order during the most volatile moment. Wait for the candlestick to close before taking another look.
This view is for discussion only. You are responsible for any profits or losses.