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 in the channel marked with blue lines.
Let's start with the designation of the support line and as you can see the price is in the fundamental support zone from $ 31,251 to $ 28798, then the first support in the near future is $ 28,070, if the support breaks, the next one is $ 22,516.
Now let's move from the resistance line as you can see the first resistance is $ 36,555, if you can break it the next resistance will be $ 42,725 and $ 47,662.
Looking at the CHOP indicator, we can see that in the 1-day interval the energy has been depleted and begins to rebound from the lower limit, while the MACD indicator shows that the blue line has crossed the red one from the bottom, which may confirm the change of the trend into the upward trend.
Let's start with the designation of the support line and as you can see the price is in the fundamental support zone from $ 31,251 to $ 28798, then the first support in the near future is $ 28,070, if the support breaks, the next one is $ 22,516.
Now let's move from the resistance line as you can see the first resistance is $ 36,555, if you can break it the next resistance will be $ 42,725 and $ 47,662.
Looking at the CHOP indicator, we can see that in the 1-day interval the energy has been depleted and begins to rebound from the lower limit, while the MACD indicator shows that the blue line has crossed the red one from the bottom, which may confirm the change of the trend into the upward trend.