Hello everyone, let's look at the BTC to USDT chart on a 1-hour time frame. As you can see, the price is moving in the triangle marked with yellow lines.
Let's start with the support line and as you can see the first support in the near future is $27857, if the support is broken then the next support is $27710, $27503 and $27233.
Now let's move on to the resistance line, as you can see first we have a resistance zone from $28025 to $28225, if we manage to break it the next resistance will be $28379, $28540 and $28770.
Looking at the CHOP indicator, we can see that we still have the energy to move, the MACD indicates a transition to a local downtrend, while the RSI is moving around the middle of the range, which makes it difficult to clearly choose the direction.
Let's start with the support line and as you can see the first support in the near future is $27857, if the support is broken then the next support is $27710, $27503 and $27233.
Now let's move on to the resistance line, as you can see first we have a resistance zone from $28025 to $28225, if we manage to break it the next resistance will be $28379, $28540 and $28770.
Looking at the CHOP indicator, we can see that we still have the energy to move, the MACD indicates a transition to a local downtrend, while the RSI is moving around the middle of the range, which makes it difficult to clearly choose the direction.