In this video CryptoCred covers the Relative Strength Index indicator in excruciating detail.
The RSI is a popular indicator and can supplement your analysis when trading Bitcoin and other cryptocurrencies.
About the RSI
Taken from Investopedia:
The relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100. The indicator was originally developed by J. Welles Wilder Jr. and introduced in his seminal 1978 book, New Concepts in Technical Trading Systems.
Traditional interpretation and usage of the RSI are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition.
CryptoCred is a technical trader, analyst and educator within the Crypto Community. His free educational content delivered across multiple platforms has seen him gain an impressive audience over the last couple of years.
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