Daily BTC/USDT Review Chart
Hello everyone, I invite you to check the current situation on BTC in the USDT pair, taking into account the one-day interval. First, we will use the yellow line to mark the upward trend line from which the price came out at the bottom, while the local orange line can mark the local downward trend line. When we turn on EMA Cross 200, we can see that we are currently making a second attempt to return to the upward trend, but there is a visible struggle to positively adjust the level.
Now we can move on to marking support areas in the event of a correction. And here, first of all, it is worth marking the support zone that kept the price from falling further from $25,670 to $24,235, but when we fall below this zone, we can see a drop to around $22,195, and then we have strong support at $19,519.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. First, we will mark the resistance zone from $26,497 to $27,517, where the price is currently fighting at the upper limit, when it is overcome, we have a second strong zone from $29,172 to $30,330. When we manage to overcome these two zones, we will go towards the resistance at $31,764.
Please pay attention to the CHOP index, which indicates that we still have energy to continue the movement, on the RSI we have a visible increase to the upper part of the range but there is still room for the price to go higher, however, on the STOCH indicator we have visible energy consumption, which may indicate a sideways trend or an attempt to recover and, consequently, a price drop.
Now we can move on to marking support areas in the event of a correction. And here, first of all, it is worth marking the support zone that kept the price from falling further from $25,670 to $24,235, but when we fall below this zone, we can see a drop to around $22,195, and then we have strong support at $19,519.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. First, we will mark the resistance zone from $26,497 to $27,517, where the price is currently fighting at the upper limit, when it is overcome, we have a second strong zone from $29,172 to $30,330. When we manage to overcome these two zones, we will go towards the resistance at $31,764.
Please pay attention to the CHOP index, which indicates that we still have energy to continue the movement, on the RSI we have a visible increase to the upper part of the range but there is still room for the price to go higher, however, on the STOCH indicator we have visible energy consumption, which may indicate a sideways trend or an attempt to recover and, consequently, a price drop.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.