Daily BTC 1DChart - resistance and support
Hello everyone, I invite you to review the chart of BTC in pair USDT taking into account the one-day interval. First, we will use the yellow lines to mark the uptrend channel in which the BTC price is moving.
Now we can move on to marking the places of support in case of further correction. And here, in the first place, it is worth marking the support at the price of $ 22959, which currently held the price, but when we go lower, we can see a drop to around $ 21,532, then to $ 20,383 and even $ 19,215.
Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. First, we have resistance just above the price at $23,145, when we manage to break it, we have a second very strong resistance at $25,221. Only when the price overcomes it and positively tests it, the way will open towards $31233.
Please pay attention to the CHOP index which indicates that despite the correction the energy is growing, the MACD indicator indicates that we are on the verge of a downward trend change, while the RSI shows a visible rebound, but be careful because there is still room for a larger correction.
Now we can move on to marking the places of support in case of further correction. And here, in the first place, it is worth marking the support at the price of $ 22959, which currently held the price, but when we go lower, we can see a drop to around $ 21,532, then to $ 20,383 and even $ 19,215.
Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. First, we have resistance just above the price at $23,145, when we manage to break it, we have a second very strong resistance at $25,221. Only when the price overcomes it and positively tests it, the way will open towards $31233.
Please pay attention to the CHOP index which indicates that despite the correction the energy is growing, the MACD indicator indicates that we are on the verge of a downward trend change, while the RSI shows a visible rebound, but be careful because there is still room for a larger correction.
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