BTC/USDT Revive 1D IntervalHello everyone, I invite you to the BTC to USDT review for 1 day.
First, with yellow lines, we can mark the triangle in which the price has been moving for a long time,
then, using the blue lines, we can similarly calculate a triangle for the price, taking into account the shorter time period.
Now let's check what support we should take into account and as you can see, in the first place we have a support zone from eighteen thousand six hundred ninety three dollars to eighteen thousand one hundred twenty nine dollars, then we can mark the support lines at a price of seventeen thousand five hundred ninety five dollars.
Then, using the Trend Based Fib Extension tool, we will set the points of resistance that BTC must overcome in order to exit the current downward triangle upwards. We have the first resistance at nineteen thousand one hundred and seventy-seven dollars, the second at nineteen thousand five hundred and sixteen dollars, the third at nineteen thousand eight hundred and two dollars, another at twenty thousand seventy-nine dollars, and twenty thousand four hundred and sixty-four dollars.
Finally, let's pay attention to the CHOP index which indicates that the energy is rising again, and the MACD indicator shows a local downward trend.
