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 below the local downtrend line.
Let's start with the support line and as you can see the first support at which the price is located is $22219, if the support is broken then the next support is $22114, $22026 and $21942.
Now let's move on to the resistance line, as you can see the first resistance is $22282, if it is broken then the next resistance will be $22365, $22480 and $22630.
Looking at the CHOP indicator, we see that some of the energy has been used, but there is still some left for further movement, the MACD indicates that we are maintaining a local uptrend, while the RSi shows a rebound and we are approaching the lower limit of the range, which may potentially change the trend.
Let's start with the support line and as you can see the first support at which the price is located is $22219, if the support is broken then the next support is $22114, $22026 and $21942.
Now let's move on to the resistance line, as you can see the first resistance is $22282, if it is broken then the next resistance will be $22365, $22480 and $22630.
Looking at the CHOP indicator, we see that some of the energy has been used, but there is still some left for further movement, the MACD indicates that we are maintaining a local uptrend, while the RSi shows a rebound and we are approaching the lower limit of the range, which may potentially change the trend.