Hello everyone, I invite you to the 4H BTC to USDT Chart Review.
We are seeing dynamic changes in the direction in which price is moving. The price descended quickly below the downtrend line, there would be a breakout, and we dropped again below the local uptrend line.
Now let's move on to determining the support and as you can see, we have a strong support zone from $ 16833 to $ 15964 in the first place, if the support is broken, the next support is at $ 15281.
We will also check what resistance BTC has to overcome to keep growing, first we have a strong resistance zone from $ 17367 to $ 18428, we have to overcome the resistance at $ 18993, only breaking this resistance will open the way back to $ 20,577.
As you can see, the CHOP index shows that we have a lot of energy, and the MACD indicator shows a local upward trend. Looking at the volume, we can see that the sellers have an advantage.
We are seeing dynamic changes in the direction in which price is moving. The price descended quickly below the downtrend line, there would be a breakout, and we dropped again below the local uptrend line.
Now let's move on to determining the support and as you can see, we have a strong support zone from $ 16833 to $ 15964 in the first place, if the support is broken, the next support is at $ 15281.
We will also check what resistance BTC has to overcome to keep growing, first we have a strong resistance zone from $ 17367 to $ 18428, we have to overcome the resistance at $ 18993, only breaking this resistance will open the way back to $ 20,577.
As you can see, the CHOP index shows that we have a lot of energy, and the MACD indicator shows a local upward trend. Looking at the volume, we can see that the sellers have an advantage.