Hello everyone, let's take a look at the BTC to USDT chart, in the 4 hour timeframe. As you can see, the price is moving above the local downtrend line. However, after the recent negative news in the world of cryptocurrencies, there is no strength for new increases.
Let's start with the support line and as you can see the first support in the near future is $16275, if the support is broken then the next support is $15990, $15702 and $15311.
Now let's go from the resistance line, as you can see the first resistance is $16801, if you manage to break it, the next resistance will be $17118, $17424 and $17860.
Looking at the CHOP indicator, we see that there is a lot of energy for the next move in the 4-hour interval and the MACD indicator indicates a local uptrend.
Let's start with the support line and as you can see the first support in the near future is $16275, if the support is broken then the next support is $15990, $15702 and $15311.
Now let's go from the resistance line, as you can see the first resistance is $16801, if you manage to break it, the next resistance will be $17118, $17424 and $17860.
Looking at the CHOP indicator, we see that there is a lot of energy for the next move in the 4-hour interval and the MACD indicator indicates a local uptrend.