Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving below the local uptrend line.
When we unfold the trend based fib extension tool, we will see support at the level of $36,285, and it is worth defining the support zone from $35,716 to $35,465.
Looking the other way, you can see that the price is bouncing off the resistance at $36,751 and then has a resistance zone from $37,391 to $37,873.
Looking at the CHOP indicator, we see that there is energy for further movement, on the RSI indicator we have returned to the middle, which makes it difficult to determine the direction, while the STOCH indicator indicates a trend reversal, which may result in a further price increase.
When we unfold the trend based fib extension tool, we will see support at the level of $36,285, and it is worth defining the support zone from $35,716 to $35,465.
Looking the other way, you can see that the price is bouncing off the resistance at $36,751 and then has a resistance zone from $37,391 to $37,873.
Looking at the CHOP indicator, we see that there is energy for further movement, on the RSI indicator we have returned to the middle, which makes it difficult to determine the direction, while the STOCH indicator indicates a trend reversal, which may result in a further price increase.