Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price has left the triangle sideways and is currently just 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 $16727, if the support is broken then the next support is $16451, $16234 and $16015.
Now let's move on to the resistance line, as you can see the first resistance the price is currently fighting is $16967, if you manage to break it the next resistance will be $17352, $17649 and $17964.
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 that the blue line is above the red one, which confirms the maintenance of the local uptrend.
Let's start with the support line and as you can see the first support in the near future is $16727, if the support is broken then the next support is $16451, $16234 and $16015.
Now let's move on to the resistance line, as you can see the first resistance the price is currently fighting is $16967, if you manage to break it the next resistance will be $17352, $17649 and $17964.
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 that the blue line is above the red one, which confirms the maintenance of the local uptrend.