Hello everyone, let's look at the BTC to USDT chart on a one hour time frame. As you can see, the price is moving above the local uptrend line.
When we unfold the Fib Retracement tool, we see that the first support in the near term is $31084, the second is $30816, then the third at $30603 and then the fourth at $30396.
Looking the other way, we see that the price has hit a very important resistance at $31,520, when it breaks it, we can see an increase towards a very strong resistance at $32,643.
The CHOP index indicates that the energy is exhausted, the MACD confirms the ongoing uptrend, and the RSI has crossed the upper limit, which may soon change the trend to a downward one.
When we unfold the Fib Retracement tool, we see that the first support in the near term is $31084, the second is $30816, then the third at $30603 and then the fourth at $30396.
Looking the other way, we see that the price has hit a very important resistance at $31,520, when it breaks it, we can see an increase towards a very strong resistance at $32,643.
The CHOP index indicates that the energy is exhausted, the MACD confirms the ongoing uptrend, and the RSI has crossed the upper limit, which may soon change the trend to a downward one.