Support : 9888 & 9650 & 9050 || Resistance : 10200 & 10550 & 11500.
Down trend line (red 1) from 6 august converges with green pitchfork line on 1 september 2019. i expect a big volatility before that date to either side.. let see what happen.
Bull scenario : if BTCUSD could made a higher low and break red down trend line 1 with strong bullish momentum. that way i expect 2nd down trendline (yellow) to be tested 11500 area.
Bearish scenario : if BTCUSD made a lower low in lower time frame and break the green pitchfork line ( green 1) with strong bearish momentum. i expect around 9050 to be tested first before any continuation bearish target to be seen.
Indicators (from top to bottom; RSI/stochastic RSI, OBV histogram, CMF) for today is mixed on 4 hour; Stochastic RSI/RSI is still on bearish area although it shown a lower high on recent rsi value. OBV shown a slight recovery of new volume on recent time. and CMF still on bearish area while it's made a lower high so far.
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- This is how the green pitchfork and orange pitchfork outlook on larger time scale.
you can see the live chart from my tradingview
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.