In this Daily chart of Basic Attention Token/ Ethereum (BAT/ ETH), there is an appreciating range from 0.000867 to 0.001616.
We can see that after the appreciation, the market depreciated to the 0.001237 level (identified by the first blue up arrow) and then the 0.001241 level (identified by the second blue up arrow), both of which are around the 0.001242 level, representing the 50% retracement of the appreciating range.
We can see the price then appreciated to 0.001509 and 0.001518 levels (identified by the red down arrow), above the 0.001439 level that represents the 23.6% retracement of the appreciating range.
Using RSI, we can see that RSI (14) and RSI Average (3) both had negative slopes after the market traded as high as 0.001518, and that RSI Average (3) bearishly crossed above RSI (14).
Using Slow Stochastics, we can see Stochastics D bearishly crossed above Stochastics K after the market traded as high as 0.001518. We can also see the slope of Stochastics K turned negative, indicating a likely bearish reversal.
Stay on top of the cryptocurrency market with CryptoDaily’s trading charts!
Original Post: 2 December 2019 – BAT/ ETH – Weekly