Short term ; Support : 9600 USD & 9300 USD || Resistance : 9776 USD & 10000 USD
On 4 hour chart is see a consolidate below the support that become resistance at 9776 USD. Create a 3rd short term downtrendline which is could potential act as a pivot point where it would bring a price action whether it could break or rejected again from it.
If the price action could break above it could be a sign for a next target for 10000 USD or until it meet with the next down trendline. Conversely rejected from it would be a bad sign to BTCUSD as support at 9300 USD & 9000 USD would be tested in matter of days.
4 hour Indicator is remain bearish although it's show weakness on bearish side.
Indicators 4 Hours from top to bottom :
- ADP : Buyer it's on distribution zone, meaning crowd still no alot interest to buy on BTCUSD chart.
- MACD : Macd histogram is bit of lagging as Histogram seller is not expanding while it had a change and now it's soon turn into buyer histogram for buyer momentum short rally in near future. MACD line still on the bearish side.
- DMI : -DI (sell power) is still dominate over +DI ( buy power) while -DI is weaken, +DI is still had no sign to initiate the bounce yet. ADX (momentum power) is rising.
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.