Title: How to know Altcoins/Tokens overbought or oversold Post by: Fenderr on March 01, 2018, 09:26:29 PM Okay guys I stumbled on a very interesting site that tells you which coins/tokens are overbought or oversold. This helps you make decisions on which train to hop on and which one to jump off. I think this a veritable tool in deciding which coins to trade or hodl, so I thought to share.
=====> https://rsihunter.com/ Title: Re: How to know Altcoins/Tokens overbought or oversold Post by: jimbo2000 on March 01, 2018, 10:47:06 PM This uses average price rises and falls to give a recommendation which is generally a fairly sound tool if you are looking for a good entry point in to a coin you believe in but many coins will show as underbought when they're simply just crashing because people have realised they actually have little value anymore.
Title: Re: How to know Altcoins/Tokens overbought or oversold Post by: Lovecove on March 01, 2018, 10:59:06 PM I checked out the site and it looks legit, except that it's a little spammy with ads... and I'm not too certain it's free and clear of malware and crypto mining scripts.
But it does have a good range of alt reports, and it does do a good job of displaying RSI in realtime. The only issue I take with it is the fact that you're saying RSI is the only factor to take into account when crypto trading. I've many a time gotten justed by relying only on RSI. So I don't think it's solid advice to give to new traders or seasoned traders that all you need to do is see if something has an insane low/high RSI. I've done that and either sold too soon or bought too high. Don't take this advice to heart, but what I DID find is that if you do RSI + MacD, it works very well. When the RSI and MACD lines criss-cross, it's usually a good indicator that something is about to peak, then fall. So sell before they criss-cross. But don't take this advice as truth and it's certainly not financial investment advice. Title: Re: How to know Altcoins/Tokens overbought or oversold Post by: gregall on March 01, 2018, 11:21:17 PM Thanks for this info! Very helpful.
Title: Re: How to know Altcoins/Tokens overbought or oversold Post by: Fenderr on March 02, 2018, 02:18:35 PM I checked out the site and it looks legit, except that it's a little spammy with ads... and I'm not too certain it's free and clear of malware and crypto mining scripts. But it does have a good range of alt reports, and it does do a good job of displaying RSI in realtime. The only issue I take with it is the fact that you're saying RSI is the only factor to take into account when crypto trading. I've many a time gotten justed by relying only on RSI. So I don't think it's solid advice to give to new traders or seasoned traders that all you need to do is see if something has an insane low/high RSI. I've done that and either sold too soon or bought too high. Don't take this advice to heart, but what I DID find is that if you do RSI + MacD, it works very well. When the RSI and MACD lines criss-cross, it's usually a good indicator that something is about to peak, then fall. So sell before they criss-cross. But don't take this advice as truth and it's certainly not financial investment advice. Absolutely! Certainly doesn't it shouldn't be sufficient information to take a buy or sell decision. That being said, I recently found the RSI + MACD as a veritable tool for trade decisions. I actually found out in a training today. |