Frequently asked questions that are usually asked in this indicator 1. What does "overbought" and "oversold" mean in the RSI? When the RSI is above 70, the asset is overbought, meaning it has risen too much and too fast, and could correct or turn lower soon. If the RSI is below 30, it is oversold, indicating that the price has fallen too much and could bounce back up. 2. Does the RSI always correctly predict trend changes? Not always. While the RSI is useful for identifying potential reversal points, it does not guarantee that the price will change direction. It is important to use it in conjunction with other indicators or market analysis to make more informed decisions.
Hello, today and in the next few days I will explain to you in a simple and understandable way what they are, what they are for and how to read the indicators on the charts!
RSI Indicator: The RSI (relative strength index) is an indicator that measures the strength and speed of price movements in a given period. Its main objective is to show whether an asset is overbought or oversold.
How to read it?
Values ââbetween 0 and 30: The asset is considered to be oversold, which could mean a buying opportunity, as the price could rise soon.
Values ââbetween 70 and 100: Indicates that the asset is overbought, suggesting that the price could fall soon.
Values ââaround 50: Reflect a neutral or balanced market.
What is it for?
The RSI helps traders identify possible price reversal points, that is, when an asset has risen or fallen too quickly and could change direction.
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$HMSTR I don't like this#scamcoinbecause I participated in the airdrop and it was 4 months of making them earn money and they didn't even give me $20 but I would go long, to me it looks like it could go up a little, I'm not saying 50% but let's say it could go up 10%!
$USTC for me what do you have for the short now! Can it go up!? yes and a lot but it can also stay there I would BET on the short! but since hamster left me bankrupt I leave it to you hahaha
$OGN What a lot of vegetables they throw away, eh! 99% of the people I read do the same as me, hahaha, they just look at the graph and say yes, yes (Zaraza) long or no, no (zaraza) short, hahaha, for me a long is fine.
$OGN I would put a long here! Keep in mind that I only bet on my posts, I don't have any analysis of anything, it's just betting on the daily charts, that is, on the days that it goes up or down, nothing more!
$NOT For me it really deserves the short just because it has been on the rise for a few days! I threw away my last cartridges in #HMSTER if not I would send him a short, it may go up 5% more but not more than that is my humble opinion
$HMSTR Well as expected I liquidated hahaha also by mistake of mine, I was doing well and I said well I put $3 more in and when I was going to put buy instead of putting long I sent short and started to lose, I got desperate and closed the position at a loss and I put in the last $3 I had left and I went short again I don't know why if I was long and when I realized the mistake it was too late, so I saved what I could hahaha well in long it was difficult for me to liquidate because I had liquidation at $0.0077 there was a lot of difference for it to go down so much so I screwed up