Bears of Battle Infinity market appear to be slowing down the bullish momentum. Despite this, buyers are relentless as they keep the price going upward. In the first hour of today’s trading session, the candlestick that represents that session’s trading activity is known as spinning top doji. It means neither buyers nor sellers could gain the upper hand in that session. The simple meaning behind this is just that buyers are becoming stronger. They became strong enough to stop the further downward push of the price by sellers and made price the action to consolidate. This is in preparation for an upward performance of the price of the market.
Key Levels
Resistance: $0.003674, $0.003700, $0.003750
Support: $0.003617, $0.003575, $0.003550
IBAT/USD: The Indicators’ Outlook
To confirm this sentiment, the MACD line has just crossed the MACD signal line on the negative side of the indicator. This is a sign of a changing trend. The histograms were much quicker to show the bullish price recovery. Pinkish histograms have been appearing and also reducing in height as the daily sessions progress since the second hour of the day’s trading session.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
Even the 15-minute timeframe favour the bullish price recovery sentiment. The lines of the MACD are about to cross to the positive side of the indicator. Another possibility is that the price may continue to range sideways as the tug-of-war goes on between the bulls and the bears. However, that may not come true because price actions in this short timeframe may not reflect in the bigger timeframes as the market swings quickly. In a broad view, buyers are getting stronger.
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