BTC 1HInterval 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 remains above the local downtrend line.
After unfolding the Fib Retracement grid, you can see that the price maintains support at $35,244, then we have a strong zone from $34,513 to $34,124, which protects us from falling to the support level of $33,006.
Looking the other way, you can see that the price has been rejected again by the resistance zone from $35,600 to $36,000, but when we come out on top, the price will be able to move towards the resistance at $34,162.
Looking at the CHOP indicator, we see that there is a lot of energy to continue the movement, the RSI indicator shows a recovery, but there is still room for price declines, and the STOCH indicator is approaching the upper limit, which may result in a stronger price recovery.
After unfolding the Fib Retracement grid, you can see that the price maintains support at $35,244, then we have a strong zone from $34,513 to $34,124, which protects us from falling to the support level of $33,006.
Looking the other way, you can see that the price has been rejected again by the resistance zone from $35,600 to $36,000, but when we come out on top, the price will be able to move towards the resistance at $34,162.
Looking at the CHOP indicator, we see that there is a lot of energy to continue the movement, the RSI indicator shows a recovery, but there is still room for price declines, and the STOCH indicator is approaching the upper limit, which may result in a stronger price recovery.