Hello everyone, I invite you to check the current situation on the BTC pair to USDT, taking into account the four-hour interval. In the first place, we can mark the uptrend line from which the price went down, while locally we move in the downtrend triangle.
Now we can move on to marking the places of support in case of deepening the correction. And here, in the first place, it is worth marking the support zone from $ 22,797 to $ 22,342, however, when we fall below this zone, we can see a drop to around $ 21,888, and then to the support zone from $ 21,227 to $ 20,400.
Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. We will first mark the resistance zone from $23,458 to $23,923, when we manage to break it, we will move towards the resistance at $24,274 and then $25,276.
Now let's pay attention to the EMA Cross 10 and 30, we can see exactly where the red line of the EMA Cross 10 crossed the green line of the EMA Cross 30 from above, which confirmed the entry into the downtrend.
Please pay attention to the CHOP index which indicates that the energy has been used, the MACD indicator confirms the entry into the local downtrend, while the RSI shows a visible rebound, which may give room for new increases.
Now we can move on to marking the places of support in case of deepening the correction. And here, in the first place, it is worth marking the support zone from $ 22,797 to $ 22,342, however, when we fall below this zone, we can see a drop to around $ 21,888, and then to the support zone from $ 21,227 to $ 20,400.
Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. We will first mark the resistance zone from $23,458 to $23,923, when we manage to break it, we will move towards the resistance at $24,274 and then $25,276.
Now let's pay attention to the EMA Cross 10 and 30, we can see exactly where the red line of the EMA Cross 10 crossed the green line of the EMA Cross 30 from above, which confirmed the entry into the downtrend.
Please pay attention to the CHOP index which indicates that the energy has been used, the MACD indicator confirms the entry into the local downtrend, while the RSI shows a visible rebound, which may give room for new increases.