Ultimate RSI Secrets featuring Bitcoin Cardano #ADA Tesla $SHOP $MSTR $BIDU $SNOW $NVTA $ILMN $GLXY

#RSI #BTC #Cardano #Tesla #Microstrategy #Baidu #Snowflake #Invitae #Illumina #Galaxy #ADA IA TA Tuesdays(InvestAnswers Technical Analysis Tuesday) Featuring IA TA Tuesdays - RSI Secrets featuring Bitcoin Cardano #ADA Tesla $SHOP $MSTR $BIDU $SNOW $NVTA $ILMN $GLXY 0:00 Introduction 0:30 Does TA Predict the Future? 1:08 Relative Strength Index (RSI) is used to assess price momentum - Measures how quickly traders are bidding up / down the price of a security 1:23 Microstrategy RSI Basics Over 70 = overbought (expensive) Under 30 = oversold (good value) 3:15 Know Your Trend Lines - Play Effectively 3:40 RSI - Uptrends vs Downtrends During a downtrend or bear market the RSI tends to stay between the 10 to 60 range with the 50-60 zone acting as Resistance. Uptrend or bull market, the RSI tends to remain in the 40 to 90 range with the 40-50 zone acting as Support. 5:00 RSI Fake Outs Strong upward trends can last for months Strong downward trends can last for weeks or months also Note Assets fall faster than rise 6:00 Divergence Types - Price makes higher high and RSI makes lower high, Downtrend lower highs and lower lows, Higher low on RSI and lower low on divergence, Dynamic trend line - when it breaks the line then you know it is breaking down REM Only consider SHORT after it breaks thru SUPPORT! 7:00 How to Execute Divergence When an asset breaks through resistance - it is a Bullish sign When an asset breaks through support - it is a Bearish sign - Map Trend Lines for Asset and RSI. 7:20 SHOPIFY Bullish Divergence - SHOP @ $1,106 8:30 Cardano ADA Bearish Divergence - ADA @ $1.13 9:30 Example Charting Tools TradingView TC2000 9:45 Let's analyze some RSI Charts - BTC SNOW BIDU GLXY ILMN MSTR TSLA SHOP ADA NVTA 9:50 Bitcoin BTC 12:00 Snowflake SNOW 13:00 Baidu BIDU 14:00 Galaxy Digital GLXY 15:20 Illumina ILMN 17:00 Microstrategy MSTR 20:00 Tesla TSLA 21:00 Shopify SHOP 22:00 Cardano ADA 23:00 Invitae NVTA 24:00 Conclusion Pros and Cons Killer tool for trending markets ALWAYS use trend lines Additional power tools are MA’s and MACD BEWARE: It is a lagging indicator DON’T EVER JUST TRADE ON RSI 24:10 Coming Soon: RSI and MACD