Short term; Support : +- 9320 USD & +- 9100 USD || Resistance : +- 9520 USD & +- 9660 USD .
BTCUSD seems recover a little bit and on the way to retest the previous broken trendline (yellow line) if it manage to get above it. i believe the 3nd down trendline will be tested also in near future. Conversely, rejected from it would be a bad sign for bull trend as it's may form a bearish continuation to the downside..
Indicators still on bearish side but show a little bounce from current level is still possible.
Indicators 4 hour timeframe from top to bottom :
- ADP : buyer still in distribution area (bearish zone) as it's no real interest to buy BTCUSD for now.
- DMI : -DI (Seller Power) is still on high level while it's beginning to weaken. if it's maintain above ADX level i would see a continuation for bearish side, conversely if -DI break below ADX level i expect a minor rally from +DI (buyer power) is increase.
- MACD : Sell histogram is decrease and beginning to switch toward buyer histogram. MACD line is still on bearish zone but it starting to crossing and create a small bullish cross on it.
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.