Hello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has been moving in a sideways trend channel for a long time.
Let's start with the support line and as you can see the first support in the next hours is $16449, if the support is broken then the next support is $16225, $16041 and $15852.
Now let's move to the resistance line, as you can see the first resistance is $16774, if the price goes up from the first resistance, the next resistance will be $16968, $17122 and $17282.
Looking at the CHOP indicator, we see that most of the energy has been used in the 4-hour interval, the MACD indicator indicates that we are maintaining a local uptrend, while the volume is very small and we see a slight advantage of sellers over the last hours.
Let's start with the support line and as you can see the first support in the next hours is $16449, if the support is broken then the next support is $16225, $16041 and $15852.
Now let's move to the resistance line, as you can see the first resistance is $16774, if the price goes up from the first resistance, the next resistance will be $16968, $17122 and $17282.
Looking at the CHOP indicator, we see that most of the energy has been used in the 4-hour interval, the MACD indicator indicates that we are maintaining a local uptrend, while the volume is very small and we see a slight advantage of sellers over the last hours.