The Battle Infinity bulls are making impressive progress as they approach the $0.0017 resistance level. As today’s session started, the bulls have been making strong moves, taking $0.001663 as the basis and targeting the new key resistance level. And the bulls have kept up the pressure on the supply line.
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0016, $0.0015, $0.0014
IBAT/USD: The Indicators’ Outlook
Because the bears have held their position without shifting grounds, the upper band of the Bollinger Bands Indicator portrays the formation of a strong resistance level at $0.0017. And it seems unyielding to the bullish pressure. The bullish price is continuously rejected at that level. However, despite the bullish price rejection, the bulls were able to maintain the bullish price near the key resistance level. They also keep the price above the 20-day moving average. This means that bulls are still pressing on the resistance level.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
Looking at the market from the standpoint of a smaller timeframe, we can see that the market is settling for sideways-ranging action. The Bollinger Bands indicator illustrates the price channel changing to a sideways movement, and the price action moves along with the 20-day moving average. At this point in the market, traders are undecided. But if bulls can keep the $0.001680 support level, they have the chance of wearing the bears out, thereby taking the bull market into new territories.
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