The price reached a new local high, but the RSI indicator could not confirm this growth, remaining below the level of 70. The formed divergence signals a potential reversal and a possible price decline in the near future.
The histogram of the MACD indicator remains above the signal line, indicating the local development of an upward movement. However, the indicator indications do not contradict the signal, marked on the chart.
On the Stochastic indicator, the blue main line remains below the signal red line. The current state of the indicator neither cancels nor contradicts signals received from other technical indicators.
Thus, in terms of Bit.Cash, preference should be given to short positions. A trader can enter the market at or around the current prices or when the resistance level is retested.
📌 Entry: 585.84
✔️ First target: 567.60
✔️ Second target: 555.42
❌ Stop order: 596.03
Bit.Cash M15: The downward divergence from RSI
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