Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $21873, if the support is broken then we have a support zone from $21226 to $20399.
Now let's go from the resistance line, as you can see the first resistance is $22,101, if we manage to break it, then we have a strong resistance zone from $22,520 to $23,194, then resistance at $23,647 and $24,234.
Looking at the CHOP indicator, we see that there is still a lot of energy left for a further move, the MACD indicates entering a local uptrend, while the RSI shows an increase and room for the next move.
Let's start with the support line and as you can see the first support in the near future is $21873, if the support is broken then we have a support zone from $21226 to $20399.
Now let's go from the resistance line, as you can see the first resistance is $22,101, if we manage to break it, then we have a strong resistance zone from $22,520 to $23,194, then resistance at $23,647 and $24,234.
Looking at the CHOP indicator, we see that there is still a lot of energy left for a further move, the MACD indicates entering a local uptrend, while the RSI shows an increase and room for the next move.