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 in a triangle marked with yellow lines, which is important we are at the downtrend line from which the price rebounded.
Let's start with the support line and as you can see the first support at which the price is currently located is $16591, if the support is broken then the next support is $16158 and $15596.
Now let's go from the resistance line, as you can see the first resistance is $16727, if you manage to break it, the next resistance will be $17010, $17290 and $17692.
Looking at the CHOP indicator, we see that in the 4-hour interval we have a lot of energy for the next move, while the MACD indicator indicates a local downtrend.
Let's start with the support line and as you can see the first support at which the price is currently located is $16591, if the support is broken then the next support is $16158 and $15596.
Now let's go from the resistance line, as you can see the first resistance is $16727, if you manage to break it, the next resistance will be $17010, $17290 and $17692.
Looking at the CHOP indicator, we see that in the 4-hour interval we have a lot of energy for the next move, while the MACD indicator indicates a local downtrend.