Between December 8 and December 9, The Battle Infinity market moved between a price channel of $0.00198 support level and $0.002054 resistance level. It was a wide struggle between the bears and the bulls. But with the opening of today’s session, the bulls take the upper hand. And finally, they captured the 0.002054 level.
Key Levels
- Resistance: $0.0027, $0.0028, $0.0029
- Support: $0.0020 $0.0019, $0.0018
IBAT/USD: The Indicators’ Outlook
The price channel illustrated by the Bollinger indicator is attempting to continue its upward movement. In the previous session, the upward-moving market was stopped when it hits a brick wall at $0.002054. This creates a kind of triangle pattern with the price actions on the chart as the resistance remains unmoved, but the support level continues to move closer to the resistance level. The bearish resistance is succumbing to the bullish pressure and now it is giving way to the progressive bullish price.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
Although the bull market is going up (progressive), the volatility in the market is high. The Bollinger indicator illustrates this with the slightly converging bands. The progressive bull market is dragging the bears along with them as they go up. The next stop for the bull market will be the $0.0021 price level, this will be after buyers can secure a support level above the $0.002050 level.
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