Short term ; Support : 10000 USD &9770 USD || Resistance : 10100 USD &10300 USD(2nd down trendline)
The price action made a pump right after it ready to broke 3 down trend line. Currently consolidate on a tight range in between long term fibonacci resistance that become a support around 10000 USD and short term fibonacci resistance on 10100 USD. Expect a movement when a price action near the 2nd down trend line in next day.
If it's rejected from 2nd down trend line i expect a short term support right around 9770 USD, Conversely, break 2nd down trend line would be a major bullish movement expected to be around 10800 to be hit.
Indicator is currently in bullish momentum although it's considered weak as the trend is not decided.
4 Hour Indicator form top to bottom:
- ADP : Buyer currently on neutral side as it's no trend is decided for this current run would be.
- MACD : Macd line is crossing a bullish signal while it's still on bearish zone. histogram is building up and it keep continue if the price action could maintain above 10000.
- DMI : -DI (Sell Power) is fail to crossover with +DI (Buyer Power) as the Seller also took this resistance (10100 USD) is a fair fight against the Buyer.
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.