Hello everyone, let's take a look at the BTC to USDT chart in a one-day timeframe. As you can see, the price is moving strongly towards the downtrend line, but still stays below it.
When we unfold the FIb Retracement grid, we see that the first support is at $27,506, then the second support is at $26,277, and then the third support is at $24,820.
Looking the other way, first resistance is at $28,392, then we have a strong resistance zone from $29,221 to $30,364 and then strong resistance at $31,807.
Looking at the CHOP indicator, we see that the energy is increasing with the price movement, on the RSI we have an increase with room for the price to go higher, also on the STOCH indicator we have a significant increase and some room for the price to go higher.
When we unfold the FIb Retracement grid, we see that the first support is at $27,506, then the second support is at $26,277, and then the third support is at $24,820.
Looking the other way, first resistance is at $28,392, then we have a strong resistance zone from $29,221 to $30,364 and then strong resistance at $31,807.
Looking at the CHOP indicator, we see that the energy is increasing with the price movement, on the RSI we have an increase with room for the price to go higher, also on the STOCH indicator we have a significant increase and some room for the price to go higher.