Hello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving in the sideways trend channel marked with white lines and that it is locally on the uptrend line.
Let's start with the support line and as you can see the first support at which the price is currently located is $16720, if the support is broken then the next support is $16580, $16442 and $16244.
Now let's move on to the resistance line, as you can see the first resistance is $16824, if you manage to break it, the next resistance will be $17333 only when the price goes up and positively tests this level and moves further up.
Looking at the CHOP indicator, we see that the energy has been exhausted in the 4-hour interval, the MACD indicator indicates a local uptrend, and the volume, although small, indicates a growing advantage on the sellers' side.
Let's start with the support line and as you can see the first support at which the price is currently located is $16720, if the support is broken then the next support is $16580, $16442 and $16244.
Now let's move on to the resistance line, as you can see the first resistance is $16824, if you manage to break it, the next resistance will be $17333 only when the price goes up and positively tests this level and moves further up.
Looking at the CHOP indicator, we see that the energy has been exhausted in the 4-hour interval, the MACD indicator indicates a local uptrend, and the volume, although small, indicates a growing advantage on the sellers' side.