Hello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. 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 at which the price stopped is $21890, if the support is broken then the next support is $21237 and $20412.
Now let's move to the resistance line, as you can see the first resistance is $22443, if you manage to break it, the next resistance will be $22806, then we have a strong resistance zone from $23078 to $23368 and then resistance at $23731.
Looking at the CHOP indicator, we see that the energy has been used, the MACD indicates a local uptrend, while the RSI has a strong rebound.
Let's start with the support line and as you can see the first support at which the price stopped is $21890, if the support is broken then the next support is $21237 and $20412.
Now let's move to the resistance line, as you can see the first resistance is $22443, if you manage to break it, the next resistance will be $22806, then we have a strong resistance zone from $23078 to $23368 and then resistance at $23731.
Looking at the CHOP indicator, we see that the energy has been used, the MACD indicates a local uptrend, while the RSI has a strong rebound.