- This is a Decision time whether BTCUSD could hold the 2nd trend line or bust toward the next big support around $ 9k . Conversely if the btcusd could hold above this 1st trend line for a while (let says within 1 week) above this level. It's a bullish scenario for BTC as it's currently still in Ascending Triangle Pattern. Which also could invalidated once the price action decide to closes below the trendline in consecutive closes.
- On 4 hour Indicators looks a slight of divergence in between the price and particular indicators like RSI and MACD histogram. I expect a slight bounce in price action if there's a buyer manage to hold this level 10400.
Indicator 4 hour from top to bottom :
MACD : Looks bearish overall as the macd line is hovering around the bearish area although a bullish divergence is clear sighted between the previous seller histogram level and current seller histogram. But doesnt mean it's would be a reversal soon as the histogram seller also could expand for more within seller histogram to negate this bullish divergence.
RSI also made a higher low inbetween the previous low and the price action movement. Could be negated if the RSI move lower than previous low.
DMI : -DI (Seller Power) is beginning to weaken but +DI (Buyer power) doesnt eager to catch up with -DI. Meaning there's no significant buyer in the market yet while the seller momentum is cooling down for now. ADX ( Momentum Strength) Is very strong, expect a big volatility movement whether go upside or downside.
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.