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31 December 2019 - BCH/ EUR – Daily

31 December 2019 - BCH/ EUR – Daily

In this Daily chart of Bitcoin Cash/ Euro (BCH/ EUR), there is an appreciating range from 153.25 to 178.97.

We can observe that the market then depreciated to the 165.01 area (identified by the blue up arrow), below the 166.11 level that represents the 50% retracement of the appreciating range.

We can observe that the market then appreciated to the 174.88 area (identified by the red down arrow), above the 172.90 level that represents the 23.6% retracement of the appreciating range.

We can observe that the market then appreciated to the 191.97 level.

Using RSI, we can observe that the slope of both RSI (14) and RSI Average (3) positively increased after the market traded as low as 165.01.  We can also observe that RSI (14) bullishly crossed above RSI Average (3) and both continue to increase, indicating probable continued price appreciation.

Using Slow Stochastics, we can observe that the slope of both Stochastics K and Stochastics D positively increased after the market traded as low as 165.01, indicating probable price appreciation.  The slopes of Stochastics K and Stochastics D continue to increase and are diverging, suggesting probable continued price appreciation.


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