Hello everyone, I invite you to review the chart of BTC vs. USDT on a four-hour timeframe. As we can see, the price is moving in the local pattern trend channel.
Now let's move on to marking the support points that the price has in case of further declines. And we can see that the first support is at $22955, the second support at $22679, if the price goes lower we can see a drop to around $21873 in line with the pattern being formed.
Looking the other way, in a similar way, we can determine the places of resistance that the price has to face. As you can see, we have the first resistance at $23,305, the second resistance at $23,509, the third resistance at $23,663, and then a strong resistance zone from $23,842 to $24,078.
It is worth watching the EMA Cross here, because we can see that the red EMA Cross 10 line turns around and when it crosses the green EMA Cross 30 line from above, we can see the entry into a downtrend.
The CHOP index indicates that the energy is gathering strength, the MACD indicates a local downtrend, while the RSI has a healthy rebound, which may make room for new increases.
Now let's move on to marking the support points that the price has in case of further declines. And we can see that the first support is at $22955, the second support at $22679, if the price goes lower we can see a drop to around $21873 in line with the pattern being formed.
Looking the other way, in a similar way, we can determine the places of resistance that the price has to face. As you can see, we have the first resistance at $23,305, the second resistance at $23,509, the third resistance at $23,663, and then a strong resistance zone from $23,842 to $24,078.
It is worth watching the EMA Cross here, because we can see that the red EMA Cross 10 line turns around and when it crosses the green EMA Cross 30 line from above, we can see the entry into a downtrend.
The CHOP index indicates that the energy is gathering strength, the MACD indicates a local downtrend, while the RSI has a healthy rebound, which may make room for new increases.