Battle Infinity buyers, for now, have succumbed to the pressure from the sellers. They have yielded the $0.0016 price level to the sellers. However, the bulls are regrouping at $0.001550, aiming to reclaim the $0.0016 price level. The new bullish support price level has been holding since the last two days’ sessions. This new price level is proving to be formidable.
Key Levels
- Resistance: $0.0022, $0.0021, $0.0020
- Support: $0.0015, $0.0014, $0.0013
IBAT/USD: The Indicators’ Outlook
Within the price channel of $0.00559 and $0.0016, the struggle between buyers and sellers intensifies as bulls fail to break $0.001586 in the last session. The Bollinger Bands Indicator illustrates the intensifying struggle with a narrowing band. The sellers still pose a threat to the bulls, for now, as the price action is below the 20-day moving average. However, the support level appears to hold strongly.
Battle Infinity Short-Term Outlook: Bullish Recovery (15-minute chart)
This is the time to buy for a profitable return. Investors need to watch for a clear bullish crossover of the lines in the bearish zone of the MACD indicator and then place a long trade. From the MACD histograms and the MACD lines, we see that the bulls are trying to take control of the market, and as a result, the market is going flat with no clear direction. But because the bulls appear strong at the support level, they may turn the tide of the market in their favour.
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