Hello everyone, let's take a look at the BTC to USDT chart over the 4 hour timeframe. As you can see, the price is moving in the downtrend channel marked with blue lines.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 20,507, if the support breaks down, the next support is $ 20,393, $ 20,304 and $ 20,212.
Now let's move to the resistance line as you can see the first resistance is $ 20,632, if you can break it the next resistance will be $ 20,729, $ 20,811 and $ 20,886.
Looking at the CHOP indicator we can see that in the 4-hour interval we have a lot of energy for the next move, while the MACD incident indicates a local upward trend.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 20,507, if the support breaks down, the next support is $ 20,393, $ 20,304 and $ 20,212.
Now let's move to the resistance line as you can see the first resistance is $ 20,632, if you can break it the next resistance will be $ 20,729, $ 20,811 and $ 20,886.
Looking at the CHOP indicator we can see that in the 4-hour interval we have a lot of energy for the next move, while the MACD incident indicates a local upward trend.