Daily BTC 4HChart - resistance and supportHello everyone, I invite you to take a slightly broader look at the BTC chart against USDT, taking into account the four-hour interval. First, we will use the blue lines to mark the sideways trend channel, but locally, we will use the yellow lines to mark the second downtrend channel.
Now we can move on to marking the places of support in the event of a correction. And here we have the first support at $21951, the second support at $21834, the third at $21736, and then it is worth marking a strong support zone from $21640 to $21500.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. And as you can see, we have the first resistance at $22016, the second at $22118, the third at $22197, and then we have a strong resistance zone from $22283 to $22403.
Please pay attention to the CHOP index which indicates that there is still energy to continue the move, the MACD indicator indicates entering a local downtrend, while on the RSI we are moving at the lower end of the range, which can potentially give a change in the trend.
Btc4hour
BTC SHORT INTERVAL 4HHello everyone, let's take a look at the BTC to USDT chart over the 4 hour timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 19,121, if the support breaks down, the next support is $ 18,629.
Now let's move from the resistance line as you can see the first resistance is $ 19,443, if you can break it the next resistance will be $ 19,716, $ 19,943 and $ 20,167.
Looking at the CHOP indicator, we can see that in the 4-hour interval we are slowly starting to regain energy and the MACD indicator indicates entering the local upward trend.