Short term ; Support : 11680 & 11550 || Resistance : 11900 & 12000.
BTCUSD currently sideways within symmetrical triangle as it's waiting for a big volatility to come once the price near it's apex of the triangle.
Although it's already far off from uptrend trend 1. BTCUSD Still holding near down trendline 2. If it's consolidate for a while might without significant drop in price. BTCUSD had a change it could made a new support above 11500.
Indicators on 4 hours looks bearish while it's not coincide with the price movement. As i said, if price action could maintain above 11500 might had a change the indicator might turn into hidden bullish divergence in forming.
- CCI seems hovering around neutral zone without significant signal/trend direction.
- CMF made a lower low and fall into bearish zone. Although this might create a hidden bullish divergence signal If the price action maintain above support level in short term.
- OBV histogram is decrease a bearish momentum while it's not clear whether it could expand the bearish momentum or not.
Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.