In this Daily chart of Ethereum/ Bitcoin (ETH/BTC), there is an appreciating range from 0.01891 to 0.02182.
This is followed by a depreciating range from 0.02182 to 0.0203.
We can see that during the depreciation, the market appreciated higher to the 0.02107 and 0.02110 levels (represented by the red down arrows), just below the 0.021133 level that represent the 23.6% retracement of the appreciating range. These highs were also just above the .02106 level, representing the 50% retracement of the depreciating range.
The market then depreciated to the 0.02013 level, just above the .020022 level that represents the 61.8% retracement of the appreciating range.
Using RSI, the download slope of RSI Average (3) coincided with the market’s depreciation, and RSI (14) crossed above RSI Average (3) when some selling pressure subsided.
Using Slow Stochastics, we can see Stochastics D bearishly crossed above Stochastics K when price depreciation intensified, and the slope of Stochastics K began to flatten out when some selling pressure subsided.
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