Hello everyone, I invite you to check the current situation on BTC in the USDT pair, taking into account the one-day interval. Let's start by defining the upward trend channel in which we are moving using blue lines, and locally it is worth defining the upward trend line.
Looking at the current strong growth, it is worth laying out the Fib Retracement grid to check the current resistance. And here you can see how the price is struggling with a strong resistance zone from $46,760 to $48,987, while a positive exit from this zone can give an upward impulse to the resistance level at $55,395.
Looking the other way, we can use the Fib Retracement tool to determine support areas in a similar way. First, there is visible support at the level of $44,243, then there is also strong support at the level of $42,010, which kept the price from falling several times. Next, there is a strong support zone from $40,489 to $38,544.
When we turn on the EMA Cross 10 and 30 indicator, we will be able to see confirmation of the return to the uptrend when the red EMA Cross 10 line crosses the green EMA Cross 30 line from below.
Going further, we have the RSI indicator, which shows that there is still some room for a price increase, but it is worth adding that the STOCH indicator is moving above the upper limit, which slows down the growth and may allow for an attempt at recovery.
Looking at the current strong growth, it is worth laying out the Fib Retracement grid to check the current resistance. And here you can see how the price is struggling with a strong resistance zone from $46,760 to $48,987, while a positive exit from this zone can give an upward impulse to the resistance level at $55,395.
Looking the other way, we can use the Fib Retracement tool to determine support areas in a similar way. First, there is visible support at the level of $44,243, then there is also strong support at the level of $42,010, which kept the price from falling several times. Next, there is a strong support zone from $40,489 to $38,544.
When we turn on the EMA Cross 10 and 30 indicator, we will be able to see confirmation of the return to the uptrend when the red EMA Cross 10 line crosses the green EMA Cross 30 line from below.
Going further, we have the RSI indicator, which shows that there is still some room for a price increase, but it is worth adding that the STOCH indicator is moving above the upper limit, which slows down the growth and may allow for an attempt at recovery.