Hello everyone, let's take a look at the BTC to USDT chart on a 1 day time frame. As you can see, after leaving the uptrend channel, we are now in the downward trend channel.
Let's start by determining the support that the btc price has on its way and we can see that the price is at the upper end of the support zone which we have from $ 19,229 to $ 17,601.
Now let's move on to the resistance that btc has to overcome in the event of a price increase and we see that first we have a resistance zone from $ 19,774 to $ 20,798, then we have resistance lines at $ 21,449, then a support zone from $ 22,497 to $ 23,661.
Looking at the CHOP indicator, we can see that we have a lot of energy in the 1-day interval, while the MACD indicator shows a local upward trend.
Let's start by determining the support that the btc price has on its way and we can see that the price is at the upper end of the support zone which we have from $ 19,229 to $ 17,601.
Now let's move on to the resistance that btc has to overcome in the event of a price increase and we see that first we have a resistance zone from $ 19,774 to $ 20,798, then we have resistance lines at $ 21,449, then a support zone from $ 22,497 to $ 23,661.
Looking at the CHOP indicator, we can see that we have a lot of energy in the 1-day interval, while the MACD indicator shows a local upward trend.