Hello everyone, welcome to Thursday's Cryptocurrency Review. Let's start by checking the current situation on the BTC pair to USDT, taking into account the one-day interval. First, we will use the blue lines to mark the uptrend channel in which the BTC price is moving at the lower limit.
Now we can move on to marking the places of support in the event of a correction. And here in the first place we have support that currently holds the price at $ 26692, then it is worth marking a strong support zone from $ 25298 to $ 23979, however, when we fall below this zone, we can see a drop around $ 22002.
Looking the other way, in a similar way, using the fib retracement tool, we can determine the places of resistance. First, the price has to break through the strong resistance zone from $ 29050 to $ 29887, when it manages to break it, we have strong resistance at $ 31053. When it manages to overcome it, the price will be able to move towards the resistance at $ 34324.
Next, it is worth looking at the EMA Cross 10 and 30, which so far indicate a downtrend.
Please pay attention to the CHOP index which indicates that most of the energy has been used, the MACD indicator indicates the maintenance of the local downtrend, while the RSI after rebounding, a small price increase will give a visible movement on the indicator, which may pull the price lower around the previously defined support zone.
Now we can move on to marking the places of support in the event of a correction. And here in the first place we have support that currently holds the price at $ 26692, then it is worth marking a strong support zone from $ 25298 to $ 23979, however, when we fall below this zone, we can see a drop around $ 22002.
Looking the other way, in a similar way, using the fib retracement tool, we can determine the places of resistance. First, the price has to break through the strong resistance zone from $ 29050 to $ 29887, when it manages to break it, we have strong resistance at $ 31053. When it manages to overcome it, the price will be able to move towards the resistance at $ 34324.
Next, it is worth looking at the EMA Cross 10 and 30, which so far indicate a downtrend.
Please pay attention to the CHOP index which indicates that most of the energy has been used, the MACD indicator indicates the maintenance of the local downtrend, while the RSI after rebounding, a small price increase will give a visible movement on the indicator, which may pull the price lower around the previously defined support zone.