The RSI oscillator detects a discrepancy. The price failed to reach a new peak, while the RSI indicator rose above the previous intraday high, indicating a potential change in price movement dynamics.
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.
There is the blue main line above the red signal line on the Stochastic indicator. The reversal pattern has not formed yet.
Short positions in respect to Bit.Cash look more warranted strategically. More conservative traders may consider entering upon a retest of this level. With a more aggressive strategy, a trader can enter at or around the current prices.
📌 Entry: 532.81
✔️ First target: 528.14
✔️ Second target: 521.86
❌ Stop order: 537.22
Bit.Cash M15: The downward divergence from RSI
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