BTC is back below $ 40,000
Hello everyone, Today we are going to check the BTC to USDT chart on a 4 hour timeframe.
Let's start by identifying the downtrend line under which the price is moving ..
Let's move on to determining the support line of the price in the event of a further correction, the first support will be at $ 37,812, while if it does not hold the price, the next support will be at $ 35,723 and $ 32,882. Then we have a fundamental support zone from $ 31,272 to $ 28,798.
Now let's move on to determining the resistance that the price has to overcome and we can see that the first resistance is $ 40,068, if we can break it, the next resistance is $ 41,405, $ 43,327 and $ 45,834.
The CHOP indicator shows that the energy in the 4 hour interval is severely depleted.
Let's start by identifying the downtrend line under which the price is moving ..
Let's move on to determining the support line of the price in the event of a further correction, the first support will be at $ 37,812, while if it does not hold the price, the next support will be at $ 35,723 and $ 32,882. Then we have a fundamental support zone from $ 31,272 to $ 28,798.
Now let's move on to determining the resistance that the price has to overcome and we can see that the first resistance is $ 40,068, if we can break it, the next resistance is $ 41,405, $ 43,327 and $ 45,834.
The CHOP indicator shows that the energy in the 4 hour interval is severely depleted.
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.