Once you have a good understanding of the basics of bitcoin mining, the next step is definitely trading, as this is one of the reasons why many people start trading bitcoin. To get the most out of this passive income business opportunity, it is also worth introducing the use of the RSI bot.
Now you’re probably going to get your head around the fact that it’s another term, another phenomenon that’s not so uncommon in the world of bitcoin, right? However, we definitely recommend you to read this blog post that will help you to clarify what an RSI bot is and why you should make use of it!
RSI, the relative strength index
If you’re not yet up to speed, we recommend you read, read our previous blog posts on the basics. But if you’re already up to speed, here’s the next level!
First of all, it’s important to clarify what RSI is and why it’s important in bitcoin trading.
The RSI indicator is basically nothing more than an indicator that measures changes in the price of a bitcoin. It can be thought of as taking a certain period of time and comparing the price rises over that time interval to the price falls over the same period. This financial indicator is definitely important to watch if you don’t want to create trouble for yourself, as it accurately reflects market sentiment and momentum.
Of course, we understand perfectly well that it is almost impossible to sit in front of your computer all day long and watch when it rises above thirty percent or when it reaches seventy percent. That’s why we’ve developed our RSI BOT to help you make an informed decision even when you’re not hanging out on the price pages all day.
What is the RSI BOT good for?
The RSI bot is nothing more than automated software that helps you to buy well and sell well without having to grow to your computer screen.
The RSI bot detects the two levels when it is worth buying (above 30%) or when it is worth selling (70%). These two thresholds indicate when a product is oversold or overbought.
A level of 30 indicates when a product is oversold, and thus sales are expected to stop soon, while purchases are expected to start. This is the level when the price of a product starts to rise.
It rises until it reaches a limit, the RSI index, number 70, at which point the product becomes overbought and buying begins to weaken and selling begins to increase. With the RSI BOT you can set the percentage you want to sell or buy, so in effect this software is monitoring the price movement for you.
By using the RSI BOT, you’re sure to boost your profits.
Be up to date, but use technology!
If you want to immerse yourself in this fantastically interesting world of bitcoin, if you want to trade a currency that is not dependent on any major power or political party, then it’s definitely worth your time to get involved!
