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 remains below the local downtrend line.
After using Fib Retracement, support is visible at the level of $50,079, and the next important level is $49,282.
Looking the other way, first the resistance is at $51,446, and then we have a strong zone from $52,461 to $52,997.
The RSI indicator shows a movement below the trend line, with room for further recovery, while the STOCH indicator is reflecting from the lower border, but the rebounds result in a greater price decline.
After using Fib Retracement, support is visible at the level of $50,079, and the next important level is $49,282.
Looking the other way, first the resistance is at $51,446, and then we have a strong zone from $52,461 to $52,997.
The RSI indicator shows a movement below the trend line, with room for further recovery, while the STOCH indicator is reflecting from the lower border, but the rebounds result in a greater price decline.