The price failed to form a new high, while the Stochastic indicator remains above the 20 level. This divergence, marked with a red line on the chart, indicates weakening of an upward momentum and increases the probability of a price decline.
The RSI is currently holding above the mark of 50. The indicator calculating formula logic suggests that, on average, the ascending movement is currently predominant.
The MACD histogram is below the signal line. This indicator shows medium- and long-term trends and may ignore short-term price reversals and pullbacks sometimes.
When it comes to Bit.Cash short positions now look more preferable. For aggressive trading, a trader can enter the market at the current prices. Advocates of a more conservative strategy should wait for the level to be retested.
📌 Entry: 560.32
✔️ First target: 541.52
✔️ Second target: 529.66
❌ Stop order: 570.56
Bit.Cash M15: A reversal signal from the Stochastic indicator
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