Hello everyone, I invite you to review the current situation on BTC in pair to USDT, taking into account the one-day interval. First of all, using the yellow line, it is worth marking the downtrend that the price has overcome and we are currently moving in the uptrend channel marked with blue lines.
Now we can move on to marking the places of support in the event of a correction. And here we see that we have the first support at
27
,017, when the price goes lower, the second support is at $24,821, then the third support is at
23
,030, and below we have the fourth very strong support at
21
,181.
Looking the other way, in a similar way using the FIB Retracement tool, we can determine the places of resistance. First, we will mark the resistance zone where the price is currently from 28 ,000 to
31
,754, when it manages to break it, the price may encounter resistance at
35
,625, then resistance at
41
,172 and a fourth resistance at
48
,221.
It is worth paying attention to the EMA Cross 50 and 200, as we can see when the yellow line of the EMA Cross 50 crossed the blue lines of the EMA Cross 200 from below, this confirmed the entry into an uptrend after a very long decline.
Please pay attention to the CHOP index which indicates that we still have the energy to continue the move, the MACD indicator indicates a return to the uptrend, while the RSI has touched the upper limit of the range, which may affect the price going sideways or give a small rebound.
Now we can move on to marking the places of support in the event of a correction. And here we see that we have the first support at
27
,017, when the price goes lower, the second support is at $24,821, then the third support is at
23
,030, and below we have the fourth very strong support at
21
,181. Looking the other way, in a similar way using the FIB Retracement tool, we can determine the places of resistance. First, we will mark the resistance zone where the price is currently from 28 ,000 to
31
,754, when it manages to break it, the price may encounter resistance at
35
,625, then resistance at
41
,172 and a fourth resistance at
48
,221. It is worth paying attention to the EMA Cross 50 and 200, as we can see when the yellow line of the EMA Cross 50 crossed the blue lines of the EMA Cross 200 from below, this confirmed the entry into an uptrend after a very long decline.
Please pay attention to the CHOP index which indicates that we still have the energy to continue the move, the MACD indicator indicates a return to the uptrend, while the RSI has touched the upper limit of the range, which may affect the price going sideways or give a small rebound.