BTC ahead of a possible upward move?

Hello everyone, I invite you to review the current situation of BTC in the USDT pair on a one-hour time frame, and here we will start by defining the downward trend channel in which we are moving using the blue lines. In this channel, we can mark two reflections from the upper border and three price reflections from the lower border, which may potentially indicate an attempt to leave the channel at the top and a potential upward movement oscillating by the height of the mentioned channel.

Going further, using the Trend Based Fib Extension tool, we will check current support locations for the price as the correction deepens. And here we can determine the first support at the level of $43,674, while a strong support zone is still visible at the lower border of the channel from $43,216 to $43,019.

Looking the other way, we will similarly determine the resistances that the BTC price must face, and here there is a strong resistance at the level of $44138, just above the upper border of the channel, however, if the price tries to exit the channel upwards, we can see a move to the strong resistance zone from 44653 $ to $44,921, and then the road towards $45,716 will open.

Please look at the CHOP indicator, which confirms that there is still energy for a move, on the RSI indicator we are moving around the middle of the range, while the STOCH indicator is at the upper limit, which may translate into a slightly greater recovery.