Hello everyone, let's look at the BTC to USDT chart on a single day timeframe. As you can see, the price is moving below the downtrend line.
Let's start by drawing the support line and as you can see the price has fallen below the support and currently the first significant support is $ 26831, if the support is broken then the next support is $ 25951.
Now let's move to the resistance line, as you can see first we have a resistance zone from $ 28004 to $ 28449, then a second zone from $ 28806 to $ 29164 and then resistance at $ 29682.
Looking at the CHOP indicator, we see that there is a lot of energy, the MACD indicates the continuation of the downward trend, while the RSI is in the process of rebounding with room for a deeper correction.
Let's start by drawing the support line and as you can see the price has fallen below the support and currently the first significant support is $ 26831, if the support is broken then the next support is $ 25951.
Now let's move to the resistance line, as you can see first we have a resistance zone from $ 28004 to $ 28449, then a second zone from $ 28806 to $ 29164 and then resistance at $ 29682.
Looking at the CHOP indicator, we see that there is a lot of energy, the MACD indicates the continuation of the downward trend, while the RSI is in the process of rebounding with room for a deeper correction.