https://www.tradingview.com/chart/2rdDzX5u/#
Here is BTC and RSI weekly. Classic.
What we see:
- RSI 53 divides bear and bull markets
- RSI 51-55 trend reversal zone
- RSI can stay in overbought for months when trend is up
- RSI has never been in overbought zone
- after sharp rise above 80, 5 out 6 cases went down to 53 reversal zone
What we shall do if there are no other indicators nor tools
- buy rising RSI from 57
- sell dropping RSI from 80
- wait for a correction
In 3 years this simple strategy will give us 11 profits out 11 trades !
Here is BTC and RSI weekly. Classic.
What we see:
- RSI 53 divides bear and bull markets
- RSI 51-55 trend reversal zone
- RSI can stay in overbought for months when trend is up
- RSI has never been in overbought zone
- after sharp rise above 80, 5 out 6 cases went down to 53 reversal zone
What we shall do if there are no other indicators nor tools
- buy rising RSI from 57
- sell dropping RSI from 80
- wait for a correction
In 3 years this simple strategy will give us 11 profits out 11 trades !