Hello everyone, let's look at the BTC to USDT chart on a one hour time frame. As you can see, the price is bouncing off the local downtrend line.
After unfolding the trend based fib extension grid, we see the first support zone from $30,309 to $30,138, and then the second support zone from $29,856 to $29,658.
Now let's move on to the resistances, and here in the first place the price has to break the zone from $30661 to $30804, when it does it has a second strong resistance zone from $30949 to $31150.
The CHOP index indicates that the energy is starting to gather strength, the MACD is on the verge of returning to the local uptrend, and the RSI after a strong recovery shows that there is room for price growth.
After unfolding the trend based fib extension grid, we see the first support zone from $30,309 to $30,138, and then the second support zone from $29,856 to $29,658.
Now let's move on to the resistances, and here in the first place the price has to break the zone from $30661 to $30804, when it does it has a second strong resistance zone from $30949 to $31150.
The CHOP index indicates that the energy is starting to gather strength, the MACD is on the verge of returning to the local uptrend, and the RSI after a strong recovery shows that there is room for price growth.