Hello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As we can see, the price breaks sideways from the local upward trend line.
When we unfold the Fib Retracement grid, we see that the price maintains support at $26,513, while it is worth marking the support zone from $25,897 to $25,454.
Looking the other way, we will similarly check the resistance areas and here we can see that the first resistance appears at the level of $26,624, then we have a resistance zone from $27,067 to $27,255, and then resistance at the level of $27,506.
Looking at the CHOP indicator, we see that there is still a lot of energy for the upcoming move, while on the RSI indicator, despite a slight price movement, we see a visible increase, which reduces the scope for possible increases in the coming hours.
When we unfold the Fib Retracement grid, we see that the price maintains support at $26,513, while it is worth marking the support zone from $25,897 to $25,454.
Looking the other way, we will similarly check the resistance areas and here we can see that the first resistance appears at the level of $26,624, then we have a resistance zone from $27,067 to $27,255, and then resistance at the level of $27,506.
Looking at the CHOP indicator, we see that there is still a lot of energy for the upcoming move, while on the RSI indicator, despite a slight price movement, we see a visible increase, which reduces the scope for possible increases in the coming hours.