18 December 2019 - BCH/ EUR – Daily

18 December 2019 - BCH/ EUR – Daily

In this Daily chart of Bitcoin Cash/ Euro (BCH/ EUR), there is an appreciating range from 174.53 to 206.70.

We can see the market retraced lower and then moved higher to test the 191.35 area (identified by the red down arrow), just above the 190.615 area that represents the 50% retracement of the appreciating range.

The market then depreciated further to the 155.00 area.

Using RSI, we can observe RSI Average (3) remains above RSI (14) and that RSI Average (3) continues to have a negative slope.  The slope of RSI (14) has turned positive, suggesting an inflection point in the market may be soon.

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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