Daily BTC 4HChart - resistance and support
Hello everyone, I invite you to checking the current situation on the BTC pair to USDT, taking into account the four-hour interval. First, we will use the yellow lines to mark the local triangle in which the price is currently moving.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking a very strong support zone from $ 28038 to $ 27560 in which the price is currently located, but when we fall below this zone, we can see a drop around $ 26882 and even $ 26022.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we will mark the resistance zone from $ 28659 to $ 29195, when it manages to break it, the price will have to break through the resistance at $ 29711, and then the third resistance at $ 30466 only when it breaks out above and then positively tests it, we will be able to see further increases.
Please pay attention to the CHOP index, which on the four-hour interval indicates that there is still a lot of energy for the move, the MACD indicator indicates entering a local uptrend, while the RSI shows a visible rebound and room for the price to go higher.
Now we can move on to marking the places of support in the event of a correction. And here, in the first place, it is worth marking a very strong support zone from $ 28038 to $ 27560 in which the price is currently located, but when we fall below this zone, we can see a drop around $ 26882 and even $ 26022.
Looking the other way, in a similar way, using the trend based fib extension tool, we can determine the places of resistance. First, we will mark the resistance zone from $ 28659 to $ 29195, when it manages to break it, the price will have to break through the resistance at $ 29711, and then the third resistance at $ 30466 only when it breaks out above and then positively tests it, we will be able to see further increases.
Please pay attention to the CHOP index, which on the four-hour interval indicates that there is still a lot of energy for the move, the MACD indicator indicates entering a local uptrend, while the RSI shows a visible rebound and room for the price to go higher.