BTC struggles with resistance at $ 46.629.
Hello everyone, let's take a look at the BTC to USDT chart over the 4 hour timeframe. As you can see, price is moving above the local uptrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 44,587, if the support breaks down, the next one is $ 42,318 and $ 40,503.
Now let's move on from the resistance line, as you can see, the first resistance is $ 46,629 which is currently struggling with price, if you can break it, the next resistance will be $ 50,940 and $ 55,175.
Looking at the CHOP indicator, we can see that in the 4-hour interval the energy has been used up and is only just starting to slowly bounce back.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 44,587, if the support breaks down, the next one is $ 42,318 and $ 40,503.
Now let's move on from the resistance line, as you can see, the first resistance is $ 46,629 which is currently struggling with price, if you can break it, the next resistance will be $ 50,940 and $ 55,175.
Looking at the CHOP indicator, we can see that in the 4-hour interval the energy has been used up and is only just starting to slowly bounce back.