Hello everyone, I invite you to every Monday's cryptocurrency review. Let's start by checking the current situation on the BTC pair to USDT, taking into account the one-day interval. The last few days have been troublesome for many investors and a lot of fears have popped up around the cryptocurrency market, which significantly lowered the valuation of Bitcoin. However, one day was enough to rebuild the losses and here, first, we will use blue lines to mark the local downtrend channel, from which, as you can see, the price has definitely moved upwards.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking the support at the price of $ 23178, the second support at the price of $ 22353, the third at the price of $ 21650, then we have a strong support zone from $ 20993 to $ 20045.
Looking the other way, also using the Fib Retracement tool. First, we will mark a strong resistance zone from $24034 to $25226, only when the price breaks out of this zone and positively tests it will open the way towards the resistance at $28802.
As we can see after turning on the Cross 10 and 30 EMAs, we can see that they are still in a downtrend, but there is a definite change in direction.
Please pay attention to the CHOP index, where we can see that the energy is gathering strength very slowly, the MACD indicator is on the verge of entering an uptrend, while the RSI has a definite increase, we see that we are approaching the upper limit, which may slow down the current growth or give local correction.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking the support at the price of $ 23178, the second support at the price of $ 22353, the third at the price of $ 21650, then we have a strong support zone from $ 20993 to $ 20045.
Looking the other way, also using the Fib Retracement tool. First, we will mark a strong resistance zone from $24034 to $25226, only when the price breaks out of this zone and positively tests it will open the way towards the resistance at $28802.
As we can see after turning on the Cross 10 and 30 EMAs, we can see that they are still in a downtrend, but there is a definite change in direction.
Please pay attention to the CHOP index, where we can see that the energy is gathering strength very slowly, the MACD indicator is on the verge of entering an uptrend, while the RSI has a definite increase, we see that we are approaching the upper limit, which may slow down the current growth or give local correction.