Hello everyone, let's look at the BTC to USDT chart on a 1-hour time frame. As you can see, the price is moving sideways and is about to exit the triangle.
Let's start with the support line and as you can see the first support in the near future is $16751, if the support is broken then the next support is $16657, $16556 and $16425.
Now let's move to the resistance line, as you can see the first resistance is $16868, if you manage to break it, the next resistance will be $16956, $17062, then we can see a rapid rise to $17371.
Looking at the CHOP indicator, we see that in the 1-hour interval, part of the energy is strongly charged, the MACD indicates a local downtrend, while the RSI has recovered and there is room for price increases.
Let's start with the support line and as you can see the first support in the near future is $16751, if the support is broken then the next support is $16657, $16556 and $16425.
Now let's move to the resistance line, as you can see the first resistance is $16868, if you manage to break it, the next resistance will be $16956, $17062, then we can see a rapid rise to $17371.
Looking at the CHOP indicator, we see that in the 1-hour interval, part of the energy is strongly charged, the MACD indicates a local downtrend, while the RSI has recovered and there is room for price increases.