Hello everyone, let's look at the BTC to USDT chart on a single day timeframe. As you can see, the price has broken the downtrend line.
Let's start by marking the resistance at $23,146 which as you can see, the price has broken and is now struggling to get it, the next very strong resistance is at $25,177.
Now let's move on to the support line and as you can see the first support in the near future is $21533, if the support is broken then the next support is $20373, $19438 and $18503.
Looking at the CHOP indicator, we can see that the energy has been used for recent increases, the MACD confirms the uptrend, while the RSI is moving above the upper range, so watch out for a correction.
Let's start by marking the resistance at $23,146 which as you can see, the price has broken and is now struggling to get it, the next very strong resistance is at $25,177.
Now let's move on to the support line and as you can see the first support in the near future is $21533, if the support is broken then the next support is $20373, $19438 and $18503.
Looking at the CHOP indicator, we can see that the energy has been used for recent increases, the MACD confirms the uptrend, while the RSI is moving above the upper range, so watch out for a correction.