Hello everyone, let's take a look at the BTC to USDT chart over the 4 hour timeframe. As you can see, price is moving in the sideways channel from $ 20,035 to $ 20,991.
Let's start with the designation of the support line and as you can see the first support is the support zone where the price is currently between $ 20,292 and $ 20072, if we fall below this zone, we can see a decline to around $ 19,444.
Now let's move on to the resistance line, as you can see, the first resistance is $ 20,449, if you can break it, the next resistance will be $ 20,577, $ 20,705 and $ 20,891, only breaking these resistance and leaving the current channel above can give a bigger increase in BTC price.
Looking at the CHOP indicator, we can see that in the 4-hour interval we still have a lot of energy for the next move, and the MACD indicator shows a local downward trend. It is also worth noting that a second green candle appeared on the volume, but it is very small.
Let's start with the designation of the support line and as you can see the first support is the support zone where the price is currently between $ 20,292 and $ 20072, if we fall below this zone, we can see a decline to around $ 19,444.
Now let's move on to the resistance line, as you can see, the first resistance is $ 20,449, if you can break it, the next resistance will be $ 20,577, $ 20,705 and $ 20,891, only breaking these resistance and leaving the current channel above can give a bigger increase in BTC price.
Looking at the CHOP indicator, we can see that in the 4-hour interval we still have a lot of energy for the next move, and the MACD indicator shows a local downward trend. It is also worth noting that a second green candle appeared on the volume, but it is very small.