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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
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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.
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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.
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DMI is currently dominated by seller. No significant reversal is detected yet.
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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.
Your level lowered and you are now a Minnow!
Your level lowered and you are now a Red Fish!