BTC/USDT Review Chart 4HInterval
Hello everyone, I invite you to review the current situation on BTC in the USDT pair, taking into account the four-hour interval. First, we will use the yellow line to mark the downward trend lines from which the price has broken upwards, and currently we can use the blue lines to mark the upward trend channel in which the price is currently moving.
Now we can move on to marking support places in case the traffic jam starts to deepen. And here you can see that after a dynamic upward movement, the price returned to the support zone from $28,056 to $27,457, but if we break below this zone, there is a second zone from $26,858 to $25,997, and then we have support at $24,921.
At this point, it is worth looking at the EMA Cross 200 and here we can see that the price has broken the 200 moving average and we have returned to the strong upward trend, it is important to maintain it now.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. First of all, you can see that the first resistance is again the place of $28,364, then we have a resistance zone from $29,178 to $30,346, which has rejected the price for now, but if it manages to break out of it, the price will move towards the strong resistance at $31,807.
Please pay attention to the CHOP index, which indicates that energy is very much consumed, the RSI indicator shows that we are moving just above the upper limit of the range, but the minimal rebound gave room for a very dynamic increase, while the STOCH indicator exceeded the upper limit, which slowed down further increases. and we have a reaction.
Now we can move on to marking support places in case the traffic jam starts to deepen. And here you can see that after a dynamic upward movement, the price returned to the support zone from $28,056 to $27,457, but if we break below this zone, there is a second zone from $26,858 to $25,997, and then we have support at $24,921.
At this point, it is worth looking at the EMA Cross 200 and here we can see that the price has broken the 200 moving average and we have returned to the strong upward trend, it is important to maintain it now.
Looking the other way, we can determine resistance locations in a similar way using the Fib Retracement tool. First of all, you can see that the first resistance is again the place of $28,364, then we have a resistance zone from $29,178 to $30,346, which has rejected the price for now, but if it manages to break out of it, the price will move towards the strong resistance at $31,807.
Please pay attention to the CHOP index, which indicates that energy is very much consumed, the RSI indicator shows that we are moving just above the upper limit of the range, but the minimal rebound gave room for a very dynamic increase, while the STOCH indicator exceeded the upper limit, which slowed down further increases. and we have a reaction.
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