5 December 2019 - BCH/ GBP – 15-minute

In this 15-minute chart of Bitcoin Cash/ British pound (BCH/ GBP), there is a depreciating range from 179.66 to 162.68.

We can see that after the depreciation, the market tested and traded above the 166.6873 area at least three times (identified by the three red down arrows), a level that represents the 23.6% retracement of the depreciating range.

We can see the market then depreciated and continues to trade below this retracement level.

Using a Simple Moving Average, we can see the market continues to trade below the 14-bar Simple Moving Average.

Using RSI, we can see that RSI (14) continues to indicate below RSI Average (3), though the two appear to be converging.

Using Slow Stochastics, we can see Stochastics D has crossed below Stochastics K and that both have a negative slope, indicating possible continued price depreciation.

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