BTC 1H Review
Hello everyone, let's look at the BTC to USDT chart on a one hour timeframe. As you can see, the price moved dynamically above the local downtrend line.
After unfolding the trend based fib extension grid, we see that the first support is at $29623, then the second at $29423, the third at $29263, and then we have a strong zone from $29098 to $28867.
Looking the other way, we see that the price has recovered quickly and is holding just below the resistance at $29,819, then we have strong resistance at $30,136 and then very strong resistance at $31,049.
The RSI indicator indicates that the energy is used, while the STOCH indicator also shows the energy used in this movement, which may result in a price correction.
After unfolding the trend based fib extension grid, we see that the first support is at $29623, then the second at $29423, the third at $29263, and then we have a strong zone from $29098 to $28867.
Looking the other way, we see that the price has recovered quickly and is holding just below the resistance at $29,819, then we have strong resistance at $30,136 and then very strong resistance at $31,049.
The RSI indicator indicates that the energy is used, while the STOCH indicator also shows the energy used in this movement, which may result in a price correction.
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