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BTCUSD August 19 2019 Daily Chart

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  • Short term ; Support 10100 & 9900 || Resistance 10500 & 10600.
  • BTCUSD being held back recently by 200 SMA line ( white line at 10500 area) while interestingly create a higher low thus far. Death cross of 4 hour between 200 EMA (purple) & 51 EMA (red) is already occur since yesterday. Meaning a slight of change for bulls to regain it's bullish trend once there's another price decline occur in the future. conversely break above it could result a rally for BTCUSD. which could bring the price action toward next pitchfork resistance (orange) at around 10000 usd price range for short term.
  • volume is decline meaning a volatility isnt present yet as it's could either waiting for impulse movement in both way could occur.
  • Indicators (from top to bottom) looks bullish on 4 hour.
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  • RSI in between bullish and bearish area while still made a higher low so far. stochastic rsi also on bullish zone while it's prone to little side ways action for this indicator to rest before continue the upside momentum.
  • DMI : +DI made a higher low so far. -DI (red color line/sell power) is still consider to give up it's bearish momentum while +DI (green color line/buy power) seems decline to crossover with each other, Momentum strength (white line) is failing so far for -DI. weakness for Bearish is to be seen.
  • OBV histogram is made a higher low thus far and it's a good sign for bullish trend if this obv keep it's current level.

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.

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