Hello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price is struggling to stay in the local horizontal trend channel.
After unfolding the trend based fib extension grid, you can see a support zone just below the side trend channel from $26,113 to $35,711, and further decline may stop the support at $25,220.
Looking the other way, a resistance zone has formed from $36,568 to $36,784, followed by a strong zone from $37,324 to $37,725.
Looking at the CHOP indicator, we see that there is still energy for a decline, and the RSI indicator, similarly to the STOCH indicator, also shows room for a deepening downward move.
After unfolding the trend based fib extension grid, you can see a support zone just below the side trend channel from $26,113 to $35,711, and further decline may stop the support at $25,220.
Looking the other way, a resistance zone has formed from $36,568 to $36,784, followed by a strong zone from $37,324 to $37,725.
Looking at the CHOP indicator, we see that there is still energy for a decline, and the RSI indicator, similarly to the STOCH indicator, also shows room for a deepening downward move.