Hello everyone, let's take a look at the BTC to USDT chart on a 1 day time frame. As you can see, the price is moving below the downtrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 28,551, if the support breaks down, the next one is $ 27,719 and $ 26,727.
Now let's move from the resistance line as you can see the first resistance is $ 29,860, if you can break it the next resistance will be $ 31,764 and $ 33,351.
Looking at the CHOP indicator, we can see that we have a lot of energy in the 1-day interval, while the MACD indicator shows that the blue line is moving over the red one. When the blue line crosses the red one from above, we can start a further 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 $ 28,551, if the support breaks down, the next one is $ 27,719 and $ 26,727.
Now let's move from the resistance line as you can see the first resistance is $ 29,860, if you can break it the next resistance will be $ 31,764 and $ 33,351.
Looking at the CHOP indicator, we can see that we have a lot of energy in the 1-day interval, while the MACD indicator shows that the blue line is moving over the red one. When the blue line crosses the red one from above, we can start a further downward trend.