Hello everyone, I invite you to check the current situation on the BTC pair to USDT, taking into account the four-hour interval. First, we will use blue lines to mark the local channel of the sideways trend, from which the price goes up, in the situation of exiting by the height of the channel, we will find ourselves in the place of the last peak, which could reverse the direction of the price.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking the support zone from $ 30,673 to $ 30,389, however, when we fall below this zone, we can see a drop around the second zone at the levels of $ 30,163 to $ 29,936.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we will mark the resistance zone from $31,215 to $31,463, when we manage to break out of it upwards and positively test, we will see a movement towards the second zone from $31,858 to $32,137.
When we turn on the moving average ema cross 10 and 30, we will notice that they are in a local uptrend.
The CHOP index which indicates that energy is starting to be recovered, the MACD indicator indicates a strong upward move, while the RSI is moving in the upper part of the range, which may affect the price rebound in the coming hours.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking the support zone from $ 30,673 to $ 30,389, however, when we fall below this zone, we can see a drop around the second zone at the levels of $ 30,163 to $ 29,936.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we will mark the resistance zone from $31,215 to $31,463, when we manage to break out of it upwards and positively test, we will see a movement towards the second zone from $31,858 to $32,137.
When we turn on the moving average ema cross 10 and 30, we will notice that they are in a local uptrend.
The CHOP index which indicates that energy is starting to be recovered, the MACD indicator indicates a strong upward move, while the RSI is moving in the upper part of the range, which may affect the price rebound in the coming hours.