Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As we can see, the price has spectacularly left the downtrend line, recording a 30% price increase in recent days.
When we use the Fib Retracement tool, we can see that key levels like 1, 1.618 Fib, are easily broken, the next significant level is at 2.618 Fib, but before that price must break through the resistance at $21,476.
However, we have the first support at the price of $ 20,101, then at $ 19,368, and below the support zone from $ 18,773 to $ 18,177.
Looking at the CHOP indicator, we see that any collected energy is quickly used for growth, and similarly, on the RSI indicator, despite crossing the upper range, the smallest rebounds are used for price growth.
When we use the Fib Retracement tool, we can see that key levels like 1, 1.618 Fib, are easily broken, the next significant level is at 2.618 Fib, but before that price must break through the resistance at $21,476.
However, we have the first support at the price of $ 20,101, then at $ 19,368, and below the support zone from $ 18,773 to $ 18,177.
Looking at the CHOP indicator, we see that any collected energy is quickly used for growth, and similarly, on the RSI indicator, despite crossing the upper range, the smallest rebounds are used for price growth.