According to Ali, traders can maintain a simple strategy of buying Bitcoin when the RSI exceeds 74.21. Conversely, he placed the sell-off point where the RSI dips below 30.35. With this template, Ali advocated for more patience from investors as the current Bitcoin RSI is reading 51, around the neutral range.
In actual trading setups, the RSI is typically used alongside another indicator confirming the plotted move. The Bollinger Bands are among the most favored, and as shown in the BTC/USD 4H chart below, the bands align with the neutral point of the RSI. This implies the patience call is the right one for now.
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