Hello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has bounced off the local downtrend line.
Let's start with determining the support line and as you can see, it is worth marking the support zone from $27993 to $27710 first, if the support is broken then the next support is $27481, $27260 and $26929.
Now let's move to the resistance line, and here too we can mark the resistance zone from $28275 to $28593, if you manage to break it, the next resistance will be $28911 and $29357.
Looking at the CHOP indicator, we see that we have a lot of energy to move further, the MACD is on the verge of returning to an uptrend, while the RSI is in the middle of the range and we can expect a small price rebound.
Let's start with determining the support line and as you can see, it is worth marking the support zone from $27993 to $27710 first, if the support is broken then the next support is $27481, $27260 and $26929.
Now let's move to the resistance line, and here too we can mark the resistance zone from $28275 to $28593, if you manage to break it, the next resistance will be $28911 and $29357.
Looking at the CHOP indicator, we see that we have a lot of energy to move further, the MACD is on the verge of returning to an uptrend, while the RSI is in the middle of the range and we can expect a small price rebound.