BTC/USDT 4hInterval Chart Review
Hello everyone, I invite you to a quick review of BTC to USDT pair, taking into account the four-hour interval. As we can see, currently the price has bounced off the downtrend line and we can observe a rebound.
Moving on, we will move on to marking support areas when the price starts to go down again. And here, using the trend based fib extension grid, we can see significant support at the level of $68607, then the level of $67672 is important, and then again a strong support point at the level of 66474.
Looking the other way, we can similarly determine the resistance points and here we can see the first resistance at level of $70,536, further visible at $71,844 and then strong resistance around $74,000.
It is worth mentioning that the RSI indicator approached the place where we could previously observe a price rebound, while the STOCH indicator approached the lower limit, which also resulted in a quick rebound from the trend line.
Moving on, we will move on to marking support areas when the price starts to go down again. And here, using the trend based fib extension grid, we can see significant support at the level of $68607, then the level of $67672 is important, and then again a strong support point at the level of 66474.
Looking the other way, we can similarly determine the resistance points and here we can see the first resistance at level of $70,536, further visible at $71,844 and then strong resistance around $74,000.
It is worth mentioning that the RSI indicator approached the place where we could previously observe a price rebound, while the STOCH indicator approached the lower limit, which also resulted in a quick rebound from the trend line.
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