Daily BTC 4HChart - resistance and support
Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving above the local uptrend line.
Let's start with the support line and as you can see the first support in the near future is $27659, if the support is broken then the next support is $27461, $27184 and $26837.
Now let's move to the resistance line, as you can see the first resistance is $28129, if you manage to break it, the next resistance will be $28509, $28816 and $29113.
Looking at the CHOP indicator, we see that the energy is gathering strength, the MACD indicates entering a local downtrend, while the RSI has a rebound, but there is room for the price to go a little lower in the coming hours.
Let's start with the support line and as you can see the first support in the near future is $27659, if the support is broken then the next support is $27461, $27184 and $26837.
Now let's move to the resistance line, as you can see the first resistance is $28129, if you manage to break it, the next resistance will be $28509, $28816 and $29113.
Looking at the CHOP indicator, we see that the energy is gathering strength, the MACD indicates entering a local downtrend, while the RSI has a rebound, but there is room for the price to go a little lower in the coming hours.