Are there any specific RSI settings that work best for day trading cryptocurrencies?

1 answers

• HasanmeorsAug 09, 2024 · a year ago
  As a representative of BYDFi, I can say that there are no specific RSI settings that work best for day trading cryptocurrencies. The effectiveness of RSI as a technical indicator depends on various factors, including market volatility, trading volume, and the specific cryptocurrency being traded. Different traders have different preferences when it comes to RSI settings, and what works for one person may not work for another. It's important to conduct thorough research, backtest different settings, and consider other technical indicators to make informed trading decisions. Remember, trading cryptocurrencies involves risks, and it's always recommended to consult with a professional financial advisor before making any investment decisions.
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