Hello everyone, let's take a look at the BTC to USDT chart on a 1 day time frame. As you can see, price is moving above the local uptrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 42,373, if the support breaks, the next one is $ 40,498 and $ 38,693.
Now let's move from the resistance line as you can see the first resistance is $ 46,678, if you can break it the next resistance will be $ 50,913 and $ 55,148.
Looking at the CHOP indicator, we can see that we have a lot of energy in the 1-day interval, so it is worth being cautious and watching whether it will not be used to continue the downward movement.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 42,373, if the support breaks, the next one is $ 40,498 and $ 38,693.
Now let's move from the resistance line as you can see the first resistance is $ 46,678, if you can break it the next resistance will be $ 50,913 and $ 55,148.
Looking at the CHOP indicator, we can see that we have a lot of energy in the 1-day interval, so it is worth being cautious and watching whether it will not be used to continue the downward movement.