Hello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price has moved higher from the local downtrend line.
After unfolding the Trend Based Fib Extension grid, we see that we have a support zone from $26,040 to $25,573, and then we can designate a second strong support zone from $25,193 to $24,802.
Looking the other way, we see that the price is trying to overcome the resistance at $26,741, and when it does, it will move towards the resistance zone from $27,231 to $27,879.
The CHOP index indicates that most of the energy was used in the current move, on the RSI we are moving in the upper part of the range and reversals give room for growth, while the STOCH indicator indicates that the energy in this move has been used, which may provide a moment of recovery.
After unfolding the Trend Based Fib Extension grid, we see that we have a support zone from $26,040 to $25,573, and then we can designate a second strong support zone from $25,193 to $24,802.
Looking the other way, we see that the price is trying to overcome the resistance at $26,741, and when it does, it will move towards the resistance zone from $27,231 to $27,879.
The CHOP index indicates that most of the energy was used in the current move, on the RSI we are moving in the upper part of the range and reversals give room for growth, while the STOCH indicator indicates that the energy in this move has been used, which may provide a moment of recovery.