Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price came out of the local upward trend line.
When we unfold the Fib Retracement grid, we can mark the support zone in which the current price ranges from $26,984 to $26,547, but if we fall below this zone, we may see a drop to the support level of $25,976.
Looking the other way, we will start by marking the first resistance zone from $27,185 to $27,459, and then we have a second strong zone from $27,896 to $28,215.
Looking at the CHOP indicator, we see that there is still some energy left for the move, while on the STOCH indicator and the RSI indicator, we are moving at the lower limit, which has slowed down the current correction and may indicate that we are approaching its end.
When we unfold the Fib Retracement grid, we can mark the support zone in which the current price ranges from $26,984 to $26,547, but if we fall below this zone, we may see a drop to the support level of $25,976.
Looking the other way, we will start by marking the first resistance zone from $27,185 to $27,459, and then we have a second strong zone from $27,896 to $28,215.
Looking at the CHOP indicator, we see that there is still some energy left for the move, while on the STOCH indicator and the RSI indicator, we are moving at the lower limit, which has slowed down the current correction and may indicate that we are approaching its end.