A divergence between the direction of price movement and Stochastic indicator has formed on the Bit.Cash chart. Although the price is decreasing, Stochastic is directed upward, which is the first sign of easing pressure on the price.
The RSI indicator is now below the mark of 50. The position of the indicator below this level indicates the predominance of a downward trend.
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.
Thus, based on Bit.Cash, it is recommended to focus on opening long positions. The market entry point is warranted at the current level or upon the retest of the support level.
📌 Entry: 574.22
✔️ First target: 578.63
✔️ Second target: 582.97
❌ Stop order: 571.29
Bit.Cash M15: Divergence signal is received from the Stochastic
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