BTC/USDT Short-Term 1H
Hello everyone, let's take a look at the BTC to USDT chart for one hour. As you can see, the price remains on the upward trend line, and locally moves in the downward trend channel.
When we unfold the Trend Based Fib Extension grid, we see that the price remained at support at $37,439, while we still have a strong support zone from $37,148 to $36,781.
Looking the other way, we have visible resistance at $38,125, and then we have a very strong resistance zone from $38,335 to $38,546.
The RSI indicator shows that we are in recovery with room for price declines, while the STOCH indicator shows that the energy for increases is quickly running out, which may drag the price lower.
When we unfold the Trend Based Fib Extension grid, we see that the price remained at support at $37,439, while we still have a strong support zone from $37,148 to $36,781.
Looking the other way, we have visible resistance at $38,125, and then we have a very strong resistance zone from $38,335 to $38,546.
The RSI indicator shows that we are in recovery with room for price declines, while the STOCH indicator shows that the energy for increases is quickly running out, which may drag the price lower.