Short term; Support : 10500 USD and 10117 USD || Resistance : 10950 USD and 11200 USD
BTCUSD is testing to get above 1st trend line yesterday and get rejected from it as it's should be a hard resistance as expected. Still maintaining higher high and lower low for recent price action, it's clearly bull trend for short term is still persist.
Indicators still on positive divergence with price action. Only Histogram from Macd is on bearish divergence so far.
MACD : Although buy histogram is decrease and not following the price action movement. MACD line (EMA and Signal line) is manage to get above bullish area for now.
ADP (Accumulation & Distribution Percentage) : Showing the demand for buying for BTCUSD, ADP is still on the bullish area by creating a higher low in the indicator which is a bullish sign for BTCUSD
DMI (Directional Movement) : Currently +DI (buy power) is above -DI (Sell Power) while the momentum is not significant different. ADX ( Momentum Power) is on low level. Expect a sideways before a major move happen.
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.