Hello everyone, let's take a look at the BNB to USDT chart on a 4-hour time frame. As you can see, the price has fallen below the local uptrend line.
Let's start by determining the support line and after unfolding the Fib Retracement grid, you can see a strong support zone from $229 to $217, and then there should be support at $202.
Looking the other way, there is resistance at $253, and then there is a resistance zone from $262 to $272.
Looking at the CHOP indicator, we see that there is a lot of energy for the move, the RSI indicator shows a slight upward movement with room for price declines again, while the STOCH indicator rose to the upper part of the range despite a slight price movement.
Let's start by determining the support line and after unfolding the Fib Retracement grid, you can see a strong support zone from $229 to $217, and then there should be support at $202.
Looking the other way, there is resistance at $253, and then there is a resistance zone from $262 to $272.
Looking at the CHOP indicator, we see that there is a lot of energy for the move, the RSI indicator shows a slight upward movement with room for price declines again, while the STOCH indicator rose to the upper part of the range despite a slight price movement.