Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price has bounced off the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $20903, if the support is broken then the next support is $20651 and $20433, then we have a support zone from $20230 to $19941.
Now let's move to the resistance line, as you can see the first resistance is $21478, if you manage to break it the next resistance will be $21998 and $22671.
Looking at the CHOP indicator, we see that the energy is being used for the current increase, the MACD indicates entering a local uptrend, while the RSI shows a strong increase.
Let's start with the support line and as you can see the first support in the near future is $20903, if the support is broken then the next support is $20651 and $20433, then we have a support zone from $20230 to $19941.
Now let's move to the resistance line, as you can see the first resistance is $21478, if you manage to break it the next resistance will be $21998 and $22671.
Looking at the CHOP indicator, we see that the energy is being used for the current increase, the MACD indicates entering a local uptrend, while the RSI shows a strong increase.