RSI Hunter - Cool New Tool!
Some of you have probably seen this cool new tool already, but for those of you who haven't; please allow me to tell you about RSI Hunter.
What Is It?
RSI Hunter is a site that takes Relative Strength Index (RSI) data from crypto exchanges (currently only Bittrex AFAIK), and displays them in an easy to read way.
Like this:
But how can you benefit from it?
How To Use It
Cryptos that are showing as either oversold or overbought may be primed for moves in the opposite direction of their current trend.
For example, IOTA in the image above is showing as very overbought, this means the price could be ready for a correction.
On the opposite side, we have QTUM showing as oversold, meaning the price could be ready for a move higher.
The key benefit is you don't have to go searching through all the coins that might be showing as either Oversold or Overbought, you can just check in one place. This is a massive time saver!
How Do I Use The RSI?
In order to know how to use the RSI (and the RSI Hunter website), a quick look at this article from Investopedia will get you started.
As they state on the website; RSI alone shouldn't be used as the sole basis for trading/investing, but it's a pretty good start!
How Much Is It?
RSI Hunter is totally free to use right now, but they are taking donations. So you can show the team behind the site some love (like I intend to do) by chucking some crypto their way.
Hopefully you find it useful!
Thanks For Viewing!
Not investment, financial, or nutritional advice.
is not the owner of RSI Hunter, or affiliated with the website and/or team.