Hello everyone, as most of the interested have already heard BTC has a very busy network, so we will check what to expect in the coming hours. As you can see, the price is moving below the downtrend line.
Importantly, the price is holding around an important resistance at 0.618 FIB, while the next significant support is at $ 26858, which is seen to have held the price before, followed by a third support at $ 25984.
Now let's move on to the resistance line, as you can see the first resistance is $ 27971 which is likely to be attacked by btc again, the next resistance will be $ 28377 and then we have a strong resistance zone from $ 28711 to $ 29221.
Looking at the CHOP indicator, we see that there is still energy for the next move, in addition, the MACD indicates a transition to a local downtrend, and the RSI returns to the lower part of the range, which may indicate that we may see an upward rebound in the short term. However, in the long run, the price may be pulled down.