BTCUSD August 19 2019 Daily Chart
- 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 IF there's another significant price decline occur for current structure of price action for medium term. conversely break above it (EMA and SMA line) could result a rally for BTCUSD. which could bring the price action toward next pitchfork resistance (orange) at around 11000 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. Although seems a struggle for bulls to regain it's trend back.
- 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.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Congratulations @jumps! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOP
To support your work, I also upvoted your post!