BTC/USDT 1H Interval Review Short-Term
Hello everyone, let's look at the BTC to USDT chart on a one hour time frame. As you can see, the price stays at the local uptrend line.
After unfolding the trend based fib extension tool, we see that the first significant support is at $29,094, then the second at $28,912, and then the third at $28,730.
Looking the other way, we see that first there is the resistance zone from $29,542 to $29,639, which so far has no strength to break, then the second zone from $29,745 to $29,884, and then the resistance at $30,066.
The CHOP index indicates that there is still energy to move, the RSI indicates that there is room for further declines, while the STOCH indicator shows exhausted energy, which may give a temporary sideways trend or a slight increase.
After unfolding the trend based fib extension tool, we see that the first significant support is at $29,094, then the second at $28,912, and then the third at $28,730.
Looking the other way, we see that first there is the resistance zone from $29,542 to $29,639, which so far has no strength to break, then the second zone from $29,745 to $29,884, and then the resistance at $30,066.
The CHOP index indicates that there is still energy to move, the RSI indicates that there is room for further declines, while the STOCH indicator shows exhausted energy, which may give a temporary sideways trend or a slight increase.