Support : 9500 & 9400 | Resistance: 9700 & 10000 | Range: 9593.50 — 9644.87
BTCUSD consolidate around 9600 in recent days due to low volatility price action on weekend. (this chart/post also quite similar topic for 31 August 2019)
For short term, BTCUSD manage to regain above 9500 area which is a good sign for bullish trend. If the price action could hold above it might be a good start for another rally up toward 10000k or higher.
Conversely, break 9400 might get a high probability for bear to continue it's down trend toward 9000 support.
look at down trendline (red) is expected to be pivot point which could led a volatility once meet that downtrend line
Indicators (from top to bottom panel) at 4 hour is mixed :
Stochastic RSI already enter toward bullish momentum movement for current price while RSI itself didnt confirm a bullish trend for now/ still in bearish trend. Although RSI and stochastic RSI still making a higher low so far which is a good sign for bull.
OBV is making a lower high from yesterday high which is a bad sign for bull. indicate a lack of new volume in recent price action. Unless if it manage to increase higher than previous high in the near future. Take a consideration for low volatility on recent time.
DMI is currently dominated by seller. No significant reversal is detected yet.
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.
and please feel free to share what your thought on comment section.
peace.
