Support : 9888 & 9650 & 9050 || Resistance : 10200 & 10550 & 11500.
Down trend line (red 1) from 6 august converges with green pitchfork line on 1 september 2019. i expect a big volatility before that date to either side.. let see what happen.
Bull scenario : if BTCUSD could made a higher low and break red down trend line 1 with strong bullish momentum. that way i expect 2nd down trendline (yellow) to be tested 11500 area.
Bearish scenario : if BTCUSD made a lower low in lower time frame and break the green pitchfork line ( green 1) with strong bearish momentum. i expect around 9050 to be tested first before any continuation bearish target to be seen.
Indicators (from top to bottom; RSI/stochastic RSI, OBV histogram, CMF) for today is mixed on 4 hour; Stochastic RSI/RSI is still on bearish area although it shown a lower high on recent rsi value. OBV shown a slight recovery of new volume on recent time. and CMF still on bearish area while it's made a lower high so far.
you can see the live chart from my tradingview
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.
