BTCUSDT 4H Interval Review
Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is trying to break the local downtrend line.
After unfolding the trend based fib extension grid, we can see a support zone from $30,241 to $29,981, however, when the price falls below this zone, we still have support at the golden fib point, at $29,555.
Now let's move from the resistance line, as you can see the price is fighting a very strong resistance at $30578, while further it will move towards an also very strong resistance at $31240.
Looking at the CHOP indicator, we see that there is still energy for the move, the MACD, despite the price increase, remains in the local downtrend, and the RSI has a slight increase, which may give room for the price to grow a little more.
After unfolding the trend based fib extension grid, we can see a support zone from $30,241 to $29,981, however, when the price falls below this zone, we still have support at the golden fib point, at $29,555.
Now let's move from the resistance line, as you can see the price is fighting a very strong resistance at $30578, while further it will move towards an also very strong resistance at $31240.
Looking at the CHOP indicator, we see that there is still energy for the move, the MACD, despite the price increase, remains in the local downtrend, and the RSI has a slight increase, which may give room for the price to grow a little more.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.