Hello everyone, let's take a look at the BTC to USDT chart over the 4 hour timeframe. As you can see, the price is moving in the sideways trend channel marked with white lines.
Let's start with the support designation, and as you can see, we first have support zones ranging from $ nineteen thousand fourteen to $ eighteen thousand seven hundred eighty-two, then we have support zones of about eighteen thousand four hundred and sixty-eight dollars, right on the lower end of our channel.
Now let's move on to the resistance, and we are the first to have zones of resistance from nineteen thousand two hundred and eight dollars to nineteen thousand three hundred and forty-six dollars. In contrast, the second zone is from nineteen thousand five hundred and seventy-nine dollars to nineteen thousand seven hundred and thirty-nine dollars.
Looking at the CHOP indicator, we can see that in the 4-hour interval the energy has been depleted, while the MACD indicator shows that we are close to entering the local upward trend.
Let's start with the support designation, and as you can see, we first have support zones ranging from $ nineteen thousand fourteen to $ eighteen thousand seven hundred eighty-two, then we have support zones of about eighteen thousand four hundred and sixty-eight dollars, right on the lower end of our channel.
Now let's move on to the resistance, and we are the first to have zones of resistance from nineteen thousand two hundred and eight dollars to nineteen thousand three hundred and forty-six dollars. In contrast, the second zone is from nineteen thousand five hundred and seventy-nine dollars to nineteen thousand seven hundred and thirty-nine dollars.
Looking at the CHOP indicator, we can see that in the 4-hour interval the energy has been depleted, while the MACD indicator shows that we are close to entering the local upward trend.