Short term ; Support : 9682 USD & 9529 USD || Resistance : 9776 USD & 9934 USD
Currently testing resistance on 9776 which is a long term fibonacci support and resistance which if it could break, High possibility to test 2nd downtrend line around 10000 level.
Break short term support if should be a bad sign for bull trend as it would traject the price action toward previous low on 9078 USD. conversely, break the downtrend line and might had a change for bullish trend to keep continue long it's stay above 1st up trend line.
Indicators 4 hour from top to bottom :
- ADP : is on distribution level meaning buyer didnt had interest to buy BTCUSD at this level yet.
- MACD : MACD line is on bearish zone, buyer histogram is weaken and soon it would change toward seller histogram.
- DMI : -DI (sell power) is still above +DI (Buy Power) ADX is still on low level. Meaning seller is dominate the market currently with a low momentum for now.
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.