Battle Infinity bulls are being forced to yield more of their territories under the strong pressure coming from the sellers in the market. The current price is now below the $0.0017 price level. And the price is now roughly halfway between $0.0017 and $0.0016. We see the bear market going this far in such a short period of time; this indicates how aggressive the bears are right now. However, this bearish move can trigger a strong bullish market run soon.
Key Levels
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0016, $0.0015, $0.0014
IBAT/USD: The Indicators’ Outlook
Looking at the Bollinger Bands Indicator, we see the bands moving widely from each other. But with the lower band illustrating more activities than the upper band, this means that bears have the upper hand. However, the Bollinger indicator’s contracting bands imply that the market can suddenly turn in favour of buyers because the two market forces are formidable. But, the demand line needs strong support first so that it can wear out the selling pressure.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
The downward-moving price channel has come to a halt, and the bull market is now moving sideways, looking for a price support level of around $0.001650. At this level, the tug-of-war over the price intensifies. And this is portrayed by the narrow price bands of the indicator. From the MACD, it seems like the bulls are gathering momentum and have managed to bring the price to equilibrium. The next thing for them to do is to change the direction of the market in their favour.
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