Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is staying 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 $ 29090, if the support is broken we can see a quick return of the price to around $ 27891, but here it is worth noting that the price remains just below a very strong support.
Now let's move on to the resistance line, as you can see the first resistance is $ 30159, if you manage to break it, the next resistance will be $ 30711, $ 31152 and $ 31600.
Looking at the CHOP indicator, we see that the energy in the current correction has been used, the MACD indicates a downward trend, while the RSI has a strong rebound, which may also indicate the end of the current rebound.
Let's start with the support line and as you can see the first support in the near future is $ 29090, if the support is broken we can see a quick return of the price to around $ 27891, but here it is worth noting that the price remains just below a very strong support.
Now let's move on to the resistance line, as you can see the first resistance is $ 30159, if you manage to break it, the next resistance will be $ 30711, $ 31152 and $ 31600.
Looking at the CHOP indicator, we see that the energy in the current correction has been used, the MACD indicates a downward trend, while the RSI has a strong rebound, which may also indicate the end of the current rebound.