Medium term; Support 600 satoshi & 500 satoshi || Resistance : 750 and 900 satoshi.
You could see the resistance and support from my TradingviewBeen on downfall quite for a while but recent price action on the verge of breakout.
Bullish divergence on most indicators (1 day chart). And Weekly sign of major volatility to approaching by DMI.
From top to bottom,
- SMA & EMA : although still on bearish side from Moving averages. if the price action could break the lowest EMA line (21 EMA/blue and 51 EMA/red), for safe trade break above and closes above that EMAs could verify all my indicators bullish sign.
- I use DMI and it's show a bullish divergence on +DI (green/buy power) while -DI (red/sell power) is made a higher low. Soon it would intercept with each other, whether it's manage to get a cross on just a fake out.
- Same thing also with MACD, bullish divergence on EMA line and histogram. Although it's the most lagging indicator, it's good to add the same thing that happen across most indicator on higher time frame.
Stochastic RSI & RSI Overlay with ADX : while still on bearish on daily, stochastic manage to get a higher high compare with previous high. RSI show a bullish divergence and still on struggle to get above the white line/ neutral zone.
OBV histogram and CMF. show a divergence also in between the price action and OBV, meaning a new money come into this asset.
Bearish side is the weekly indicator is still on bearish zone.
- Although i like to keep a point of interest in DMI indicator on weekly. When ADX (white/momentum strength) is on higher level (above white horizontal line), and get cross whether by -DI (red/sell power) or +DI (green/buy power) there's always a breakup/down. same thing in the past time when +DI (green line) cross ADX from above on 2017 and 2018, it fell on the price action and start a bear market.
See the current indicators while -DI ready to cross ADX from above..
i'm expect a reverse event from 2017/2018 do happen/break upward. IF, -DI do crossover with ADX, not a fake out and +DI do goes up.
In the end. I believe major price action will happen within few week.
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.