Hello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has fallen below the local uptrend line.
Let's start with the support line and as you can see the first strong support is at $17199, if the support is broken then the next support is $17044 and $16924.
Now let's go from the resistance line, as you can see the first resistance is $17702, if you manage to break it, the next resistance will be $17919, $18097 and $18276.
Looking at the CHOP indicator, we see that in the 4-hour interval, the energy begins to gain strength, the MACD indicator confirms the local downtrend, while the RSI shows a rebound, but we are still around the middle of the range, which may indicate a continuation of the correction.
Let's start with the support line and as you can see the first strong support is at $17199, if the support is broken then the next support is $17044 and $16924.
Now let's go from the resistance line, as you can see the first resistance is $17702, if you manage to break it, the next resistance will be $17919, $18097 and $18276.
Looking at the CHOP indicator, we see that in the 4-hour interval, the energy begins to gain strength, the MACD indicator confirms the local downtrend, while the RSI shows a rebound, but we are still around the middle of the range, which may indicate a continuation of the correction.