Daily BTC 4HChart - resistance and support
Hello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the interval of four hours. First, we will use the yellow lines to mark the local triangle in which the price is currently moving.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking a very strong support zone from $ 28038 to $ 27560 in which the price is currently located, but when we fall below this zone, we can see a drop around $ 26882 and even $ 26022.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we will mark the resistance zone from $ 28659 to $ 29195, when it manages to break it, the price will have to break through the resistance at $ 29711, and then the third resistance at $ 30466 only when it breaks out above and then positively tests it, we will be able to see further increases.
It is worth paying attention to the EMA Cross 10 and 30, where we see confirmation of the transition to a downtrend. You should watch the red line when it starts to curve upwards, which can give a trend reversal.
Please pay attention to the CHOP index, which on the four-hour interval indicates that the energy has been used and begins to rebound, the MACD indicator indicates the maintenance of the local downtrend, while the RSI has touched the lower limit of the range, which may give a break in the correction.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking a very strong support zone from $ 28038 to $ 27560 in which the price is currently located, but when we fall below this zone, we can see a drop around $ 26882 and even $ 26022.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we will mark the resistance zone from $ 28659 to $ 29195, when it manages to break it, the price will have to break through the resistance at $ 29711, and then the third resistance at $ 30466 only when it breaks out above and then positively tests it, we will be able to see further increases.
It is worth paying attention to the EMA Cross 10 and 30, where we see confirmation of the transition to a downtrend. You should watch the red line when it starts to curve upwards, which can give a trend reversal.
Please pay attention to the CHOP index, which on the four-hour interval indicates that the energy has been used and begins to rebound, the MACD indicator indicates the maintenance of the local downtrend, while the RSI has touched the lower limit of the range, which may give a break in the correction.
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.