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 $16919, if the support is broken then the next support is $16826, $16687 and $16513.
Now let's go from the resistance line, as you can see the first resistance is $17099, if you manage to break it, the next resistance will be $17288, $17446 and $17605.
Looking at the CHOP indicator, we see that we have a lot of energy in the 4-hour interval, the MACD indicator indicates a local downtrend, and the volume, as you can see, is low with no apparent advantage.
Let's start with the support line and as you can see the first support in the near future is $16919, if the support is broken then the next support is $16826, $16687 and $16513.
Now let's go from the resistance line, as you can see the first resistance is $17099, if you manage to break it, the next resistance will be $17288, $17446 and $17605.
Looking at the CHOP indicator, we see that we have a lot of energy in the 4-hour interval, the MACD indicator indicates a local downtrend, and the volume, as you can see, is low with no apparent advantage.