Hello everyone, let's look at the BTC to USDT 1 day chart. As you can see, the price is moving below the downtrend line.
Let's start with determining the support and as you can see in the first place we have a strong support zone from $ 16,158 to $ 15,602, but if the price drops below this zone, we have the next support only at the price of $ 14,011.
In the case of resistance, we have a very significant zone between $18,543 and $19,236, only a breakout of this zone will open the way to around $21,437.
Looking at the CHOP indicator, we can see that on the 1-day interval, the energy is slowly starting to gain strength, while the MACD indicates a downtrend. What's more, on the volume indicator, we see the advantage of sellers.
Let's start with determining the support and as you can see in the first place we have a strong support zone from $ 16,158 to $ 15,602, but if the price drops below this zone, we have the next support only at the price of $ 14,011.
In the case of resistance, we have a very significant zone between $18,543 and $19,236, only a breakout of this zone will open the way to around $21,437.
Looking at the CHOP indicator, we can see that on the 1-day interval, the energy is slowly starting to gain strength, while the MACD indicates a downtrend. What's more, on the volume indicator, we see the advantage of sellers.