Hello everyone, I invite you to review the BTC pair to USDT taking into account the interval of four hours. First, we will use the yellow line to mark the local line of the falling trend under which the price is currently moving.
Now we can move on to marking the support areas in case of a deeper correction. And here, in the first place, it is worth marking the support at the price of $ 21,412, then we have a support zone from $ 21,007 to $ 20,666, but when we fall below this zone, we can see a drop to around $ 20,339, then to the price of $ 19,868 and even $ 19,265.
As we can see, EMA Cross 10 and 30 indicate continuation of the downtrend.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we have resistance at $22,300, once we break it, we have resistance at $22,891, then there is a zone of strong resistance from $23,341 to $23,797, and then price can move towards $24,432 resistance.
Please pay attention to the CHOP index which indicates that there is still a lot of energy left for the move, the MACD indicator indicates the maintenance of the local uptrend, while the RSI is moving in the lower part of the range.
Now we can move on to marking the support areas in case of a deeper correction. And here, in the first place, it is worth marking the support at the price of $ 21,412, then we have a support zone from $ 21,007 to $ 20,666, but when we fall below this zone, we can see a drop to around $ 20,339, then to the price of $ 19,868 and even $ 19,265.
As we can see, EMA Cross 10 and 30 indicate continuation of the downtrend.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we have resistance at $22,300, once we break it, we have resistance at $22,891, then there is a zone of strong resistance from $23,341 to $23,797, and then price can move towards $24,432 resistance.
Please pay attention to the CHOP index which indicates that there is still a lot of energy left for the move, the MACD indicator indicates the maintenance of the local uptrend, while the RSI is moving in the lower part of the range.