BTC Short-Term Review 1H
Hello everyone, let's take a look at the BTC to USDT chart taking into account the one hour interval. As you can see, the price is moving above the local uptrend line.
After unfolding the FIb Retracement grid, we see that the price remains just above the support zone from $28,735 to $28,607, and then we have the second zone from $28,403 to $28,256.
Looking the other way, we see a strong resistance zone from $28,885 to $29,106, only when we go above it can we see an increase to the resistance level of $29,743.
Looking at the CHOP indicator, we see that the energy has been used, while the RSI indicator and the STOCH indicator show a movement at the upper limit of the range, which resulted in a slowdown in growth and may result in a price recovery.
After unfolding the FIb Retracement grid, we see that the price remains just above the support zone from $28,735 to $28,607, and then we have the second zone from $28,403 to $28,256.
Looking the other way, we see a strong resistance zone from $28,885 to $29,106, only when we go above it can we see an increase to the resistance level of $29,743.
Looking at the CHOP indicator, we see that the energy has been used, while the RSI indicator and the STOCH indicator show a movement at the upper limit of the range, which resulted in a slowdown in growth and may result in a price recovery.