Hello everyone, let's take a look at the BTC to USDT chart taking into account the one hour interval. As you can see, the price dynamically moved up from the local downward trend line.
After unfolding the Trend Based Fib Extension grid, we see that the price has returned to the support zone from $28,498 to $28,063, but if this zone does not maintain the price, we may see a drop to the support level of $26,801.
Looking the other way, we see that the first resistance is at $28,898, then the second at $29,423, and then we can mark a significant resistance zone from $29,846 to $30,269.
Looking at the CHOP indicator, we see that the energy is starting to grow, the RSI shows a return to the lower part, which makes room for a new increase, while the STOCH indicator shows a reflection from the lower boundary, which could potentially result in an upward movement in the coming hours.
After unfolding the Trend Based Fib Extension grid, we see that the price has returned to the support zone from $28,498 to $28,063, but if this zone does not maintain the price, we may see a drop to the support level of $26,801.
Looking the other way, we see that the first resistance is at $28,898, then the second at $29,423, and then we can mark a significant resistance zone from $29,846 to $30,269.
Looking at the CHOP indicator, we see that the energy is starting to grow, the RSI shows a return to the lower part, which makes room for a new increase, while the STOCH indicator shows a reflection from the lower boundary, which could potentially result in an upward movement in the coming hours.