LTCUSDT Identifying accumulation zones using RSI P.3
Additional example of the utility of RSI in supply/demand analysis.
On the 4 hour price eventually returned to a key support. Just to repeat from other examples:
What is the volume reaction? Enough to stop any further down move?
RSI triggered at or below demand line (aka "oversold")
Shift focus to the 15 minute
Too much to get into but all you have to do is pull up your Wyckoff accumulation schematic where you can see how the phases and entries played out here.
If this is something you want to experiment with, just note that I use the RSI set at 7 not 14.
On the 4 hour price eventually returned to a key support. Just to repeat from other examples:
What is the volume reaction? Enough to stop any further down move?
RSI triggered at or below demand line (aka "oversold")
Shift focus to the 15 minute
Too much to get into but all you have to do is pull up your Wyckoff accumulation schematic where you can see how the phases and entries played out here.
If this is something you want to experiment with, just note that I use the RSI set at 7 not 14.