BTC Short-Term 1H Chart Review
Hello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price has fallen below the local uptrend line.
After unfolding the Fib Retracement grid, we see that the price remains in a strong support zone from $26,980 to $26,532, and then we have support at $25,970.
Looking the other way, the first resistance is at the price of $27,328, then we have resistance at the price of $27,567, and then there is a resistance zone from $27,814 to $28,166.
Looking at the CHOP indicator, we see that the energy rebound is used for a small increase, while on the RSI indicator, despite small movements on the chart, we returned to the upper part of the range with room for the price to go a little higher.
After unfolding the Fib Retracement grid, we see that the price remains in a strong support zone from $26,980 to $26,532, and then we have support at $25,970.
Looking the other way, the first resistance is at the price of $27,328, then we have resistance at the price of $27,567, and then there is a resistance zone from $27,814 to $28,166.
Looking at the CHOP indicator, we see that the energy rebound is used for a small increase, while on the RSI indicator, despite small movements on the chart, we returned to the upper part of the range with room for the price to go a little higher.
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