Daily BTC 4HChart - resistance and support
Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $26819, if the support is broken then the next support is $26566, $26372 and $26164.
Now let's move on to the resistance line, as you can see first we have a resistance zone from $27120 to $27256, if we manage to break it the next resistance will be $27467, then $27730 and we can see a quick return to $28462.
Looking at the CHOP indicator, we see that the energy is slowly gathering strength, the MACD indicates a local downtrend, while the RSI after rebounding fell to the lower part, which creates room for future increases.
Let's start with the support line and as you can see the first support in the near future is $26819, if the support is broken then the next support is $26566, $26372 and $26164.
Now let's move on to the resistance line, as you can see first we have a resistance zone from $27120 to $27256, if we manage to break it the next resistance will be $27467, then $27730 and we can see a quick return to $28462.
Looking at the CHOP indicator, we see that the energy is slowly gathering strength, the MACD indicates a local downtrend, while the RSI after rebounding fell to the lower part, which creates room for future increases.
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