Hello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has broken out above the local uptrend line.
Let's start with the support line and as you can see the first support in the near future is $24483, if the support is broken then the next support is $24110 and $23819.
Now let's move on to the resistance line, as you can see the price is approaching the first resistance at $25187, if it manages to break it, the next resistance will be $25508 and $25943.
Looking at the CHOP indicator, we see that we have a lot of energy for the next move, the MACD maintains the local downtrend, while the RSI moves at the upper limit, which may cause a further price correction.
Let's start with the support line and as you can see the first support in the near future is $24483, if the support is broken then the next support is $24110 and $23819.
Now let's move on to the resistance line, as you can see the price is approaching the first resistance at $25187, if it manages to break it, the next resistance will be $25508 and $25943.
Looking at the CHOP indicator, we see that we have a lot of energy for the next move, the MACD maintains the local downtrend, while the RSI moves at the upper limit, which may cause a further price correction.