In this 15-minute chart of Bitcoin/ US dollar (BTC/ USD), there is a depreciating range from 10939.34 to 6526.00.
We can see the market appreciated to the 7775.00 level (identified by the red down arrow) before resuming its downtrend.
The 7775.00 level was above the 7567.54 level, representing the 23.6% retracement of the depreciating range.
The market continues to depreciate.
Using RSI, we can observe RSI Average (3) remains above RSI (14) and that both RSI Average (3) and RSI (14) have negative slopes. These developments suggest the depreciation may continue.
Using Slow Stochastics, we can observe the slope of Stochastics D and the slope of Stochastics K are both negative, and that Stochastics D is above Stochastics K. These indicators also suggest the depreciation may continue.
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