Hello everyone, let's take a look at the BTC to USDT chart over the 4 hour timeframe. As you can see, the price moves in the sideways trend channel.
Let's start with the designation of the support line and as you can see the first support in the near future is nineteen thousand and twelve dollars if the support is broken, the next support is eighteen thousand eight hundred dollars, the next at eighteen thousand four hundred seventy five dollars and another eighteen thousand eighty-one dollars.
Now let's move from the line of resistance, as you can see, the first resistance is nineteen thousand two hundred eighty two dollars, if you can break it, the next resistance will be nineteen thousand five hundred sixty four dollars, nineteen thousand nine hundred forty one dollars and twenty thousand four hundred sixty one dollars.
In our current channel, we have moved above the downtrend line
Looking at the CHOP indicator, we can see that in the 4-hour interval the energy has been depleted and the MACD indicator shows a local downward trend.
Let's start with the designation of the support line and as you can see the first support in the near future is nineteen thousand and twelve dollars if the support is broken, the next support is eighteen thousand eight hundred dollars, the next at eighteen thousand four hundred seventy five dollars and another eighteen thousand eighty-one dollars.
Now let's move from the line of resistance, as you can see, the first resistance is nineteen thousand two hundred eighty two dollars, if you can break it, the next resistance will be nineteen thousand five hundred sixty four dollars, nineteen thousand nine hundred forty one dollars and twenty thousand four hundred sixty one dollars.
In our current channel, we have moved above the downtrend line
Looking at the CHOP indicator, we can see that in the 4-hour interval the energy has been depleted and the MACD indicator shows a local downward trend.