Guide
RSI reads the candle. It never reads the book.
RSI shows how stretched a price is. Below 30 is called oversold. That does not mean it will bounce. Check the walls before you decide it does.
RSI: Relative Strength Index, 14 candles, scale 0 to 100The one mistake
Oversold can stay oversold.
In a strong drop, RSI can sit under 30 for days. Treat it as "price fell fast", not as "buy now".
Check before you act
- Is there a big buy wall below? The resting-orders heatmap shows it.
- Where do traders get forced out? Look on the liquidation map.
- Do other timeframes agree? See multi-timeframe.
On ASA
Radar scans 526 coins for RSI oversold and overbought on every timeframe. Free.
Timeframes 3m to 1d