Hello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price is approaching leaving the triangle, moving along the local upward trend line.
As you can see, we are close to returning above EMA Cross 200, which would change the trend to an upward one.
When we spread the trend based fib extension grid, we see a support zone from $25,762 to $25,642, and then a second support zone from $25,455 to $25,319.
Looking the other way, you can see that the price is fighting the first resistance zone from $25,881 to $26,036, then we have resistance at $26,159, and then the second resistance zone from $26,281 to $26,458.
The CHOP index indicates that there is still energy for movement, on the RSI we remain in the middle of the range, while the STOCH indicator indicates that we may see a slight price recovery.
As you can see, we are close to returning above EMA Cross 200, which would change the trend to an upward one.
When we spread the trend based fib extension grid, we see a support zone from $25,762 to $25,642, and then a second support zone from $25,455 to $25,319.
Looking the other way, you can see that the price is fighting the first resistance zone from $25,881 to $26,036, then we have resistance at $26,159, and then the second resistance zone from $26,281 to $26,458.
The CHOP index indicates that there is still energy for movement, on the RSI we remain in the middle of the range, while the STOCH indicator indicates that we may see a slight price recovery.