15 November 2019 - LINK/ETH – 4-hourly

Published 4 years ago on November 15, 2019

In this 4-hourly chart of Chainlink/ Ethereum (LINK/ETH), there is an appreciation from 0.014366 to 0.016904.

We can see the price then depreciated to the 0.016355 level (indicated by the blue up arrow), just above the 0.16305 level that represents the 23.6% retracement of the appreciating range.

We can RSI (14) plotted and we can see RSI Average (3) crossing above RSI (14) on the last bar shown, a bearish development that coincided with a market pullback.

We can see an indication of market weakness prior to the crossover when the slope of RSI (14) became negative, and this bearishly preceded the slope of RSI Average (3) becoming negative.

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Sally Ho

Sally Ho trades cryptocurrency markets in size for large Asian institutional funds and provides technical analysis of popular trading pairs. Sally was a Macro trader with large Asian, European, and North American banks in Hong Kong and Singapore for several years, focusing on the FX, Metals, Energy, and Derivatives markets. Sally resides in Asia, London, and Switzerland.