- Short term : Support : 10027 USD & 9927 USD || Resistance : 10170 USD and 10288 USD.
- This is 1 hour timeframe as currently the price action just get rejected from long term fibonacci line by looking at the recent candlestick behavior. Indicate 10170 area is not going to be give up so easily by the bear.
- breaking above 10170 i expect a major pump would occur as less resistance toward 11000 USD.. but i keep short term fibonacci line as a potential short pullback/resistance and support as long it still above uptrend line 2.
- Potential Bearish divergence will be form. atleast for short time as it is just 1 hour time frame indicators. cannot be confirm after seeing the next following candlestick behavior would be. See the Blue line.
I'm using CCI (Commodity Channel Index), CMF (chaikin money flow) & OBV histogram (On-Balance Volume) as mainly to see how much momentum for this movement of price action. recently, seeing the indicators dont correlated much as the recent price action especially after rejection from 10170 could be a bad sign for bulls.
This Bearish divergence could be negate if the price action and the indicators is correlated with rising price action/positive divergence by rising above the previous high from each indicators i represent .
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, any relation between my posts toward any of your trading decision would be on your own consequence. please feel free to share what your thought on comment section.
peace.