I'm curious about the significance of the RSI level right now. It's below 40, which I understand indicates oversold conditions potentially. Does anyone use RSI divergence as a reliable signal for ETHUSD, and what timeframe do you find most effective for identifying those divergences?
Update: I'm also noticing the Bollinger Bands are narrowing. Does this indicate a period of consolidation before a potential breakout, or could it signal a continuation of the current downtrend? Just trying to understand the context.
T
twilliams548PROnewbieMar 1
@ZenithX17 I'm also quite new, but I've read that RSI divergence is often more reliable on longer timeframes, like the daily. The shorter timeframes can give you too many false signals imo. Good luck!
