Welcome community members in this post, I’ll be going through with BTC/USDT 1hr chart update.
Hit the like button and follow if you find this chart helpful.
As the above-mentioned chart is evident that BTC/USDT is trading inside the channel pattern and following it well.
Currently, BTC printing short-term bullish scenario bounced right from the lower trend line support and gained 11% after creating a low of $26700.
RSI also follows the lower trend line.
Now, BTC currently trading at the price level of $29400, and facing the blue MA resistance it needs to break this MA resistance or the upper trend line resistance to enter a short-term bullish trend and we will be able to see some green candles.
If BTC rejects from the MA and comes downside at the lower trend line this chart will be invalidated.
NOTE: This is not financial advice. This is for education purposes only. I am not responsible for the profits or losses you generate from your investments.