Short Term ; Support : 9500 USD & 9300 USD || Resistance : 9785 USD & 9980 USD
BTCUSD is teasing around important zone (downtrend line 2 and recent broken uptrend). If it could break that area, that would a bullish case for medium term for BTCUSD and expect a huge impulse bullish movement for BTCUSD. Conversely, fail to break above that zone would be a devastating for bullish trend that already been established since april 2019.
On short time frame, a Rising Wedge pattern is forming ( green line), which could be a continuation bearish trend IF the price action cant get above important zone. Invalidated if the price action already above 9980.
Indicator 4 hour from top to bottom :
- ADP : Beginning to enter a accumulation zone (above 50) which indicate a buyers interested for btcusd.. the more longer it stay on accumulation zone the better for bullish trend.
- CCI : The indicator itself show a high average in price as it's show a strength for current momentum, while it also took notice it's been a 2nd attempt for price action fail to get above the important zone while the indicator beginning to show a bearish divergence threat.
- DMI : -DI will cross +DI in short the next candlestick as it's a good sign of reversal trend. althougth the momentum strength is weaken.
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.