We will now move on to the BTC/USDT chart, also on a one-day timeframe. First of all, using the yellow line, we can mark the downtrend line from which the price went up, then, using the blue lines, we can mark the uptrend channel in which the price is currently moving.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, but here we will use support zones and we have the first zone in the range of $ 27725 to $ 25381, then there is a second strong zone from $ 23388 to $ 21513, while if the price fell lower we have a third very strong support zone from $18,934 to $15,418.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first very strong resistance at the price of $ 31769, which so far has not been strong enough to overcome, the next resistance is at the price of $ 35578, and then the third resistance at the price of $ 41028.
When we turn on the EMA Cross 200, we can see that it kept the price nicely in the uptrend.
The CHOP index indicates that the energy has been used.
The MACD indicator is in a strong uptrend. On the other hand, on the RSI we see a breakout of the upper limit and we currently have a slight rebound, but I expect a stronger rebound or a sideways trend with small price slides.
Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark support, but here we will use support zones and we have the first zone in the range of $ 27725 to $ 25381, then there is a second strong zone from $ 23388 to $ 21513, while if the price fell lower we have a third very strong support zone from $18,934 to $15,418.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first very strong resistance at the price of $ 31769, which so far has not been strong enough to overcome, the next resistance is at the price of $ 35578, and then the third resistance at the price of $ 41028.
When we turn on the EMA Cross 200, we can see that it kept the price nicely in the uptrend.
The CHOP index indicates that the energy has been used.
The MACD indicator is in a strong uptrend. On the other hand, on the RSI we see a breakout of the upper limit and we currently have a slight rebound, but I expect a stronger rebound or a sideways trend with small price slides.