BTC/USDT 4H Review, Resistance and Support
Hello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $26334, if the support is broken then the next support is $25806, $25359 and $24944.
Now let's go from the resistance line, as you can see the first resistance is $27234, if you manage to break it, the next resistance will be $27567, $27863 and $28146.
Looking at the CHOP indicator, we see that there is still energy for the continuation of the move, MACD indicates the continuation of the uptrend, however, we have touched the upper limit on the RSI, which will most likely reverse the trend in the coming hours and give the price a rebound.
Let's start with the support line and as you can see the first support in the near future is $26334, if the support is broken then the next support is $25806, $25359 and $24944.
Now let's go from the resistance line, as you can see the first resistance is $27234, if you manage to break it, the next resistance will be $27567, $27863 and $28146.
Looking at the CHOP indicator, we see that there is still energy for the continuation of the move, MACD indicates the continuation of the uptrend, however, we have touched the upper limit on the RSI, which will most likely reverse the trend in the coming hours and give the price a rebound.