Published
4 years ago on
November 19, 2019
In this 4-hourly chart of Bitcoin Cash/ Bitcoin (BCH/BTC), there is an appreciating range from 0.02639 to 0.03337.
We can see the price depreciated to the 0.03060 level (identified by the blue up arrow), just below the 0.03704 level, representing the 38.2% retracement of the appreciating range.
We can see the price then appreciated to the 0.03139 level.
Using RSI, we can see the slope of RSI (14) became less negative on the next bar after the low of 0.03060, indicating a possible trend reversal. On subsequent bars, the slope of RSI (14) became positive, the slope of RSI Average (3) became positive, and RSI (14) crossed above RSI Average (3).
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