Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line.
Let's start with the support line and as you can see the first support in the near future is $22512, if the support is broken then the next support is $22329 and $22098.
Now let's move to the resistance line, as you can see the first resistance is $22661, if you manage to break it, the next resistance will be $22765, $22873 and $23022.
Looking at the CHOP indicator, we see that we have a lot of energy for a new move, the MACD indicates a local downtrend, while the RSI shows a further rebound, which is healthy in the long run.
Let's start with the support line and as you can see the first support in the near future is $22512, if the support is broken then the next support is $22329 and $22098.
Now let's move to the resistance line, as you can see the first resistance is $22661, if you manage to break it, the next resistance will be $22765, $22873 and $23022.
Looking at the CHOP indicator, we see that we have a lot of energy for a new move, the MACD indicates a local downtrend, while the RSI shows a further rebound, which is healthy in the long run.