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 is moving above the local uptrend line.
After unfolding the trend based fib extension grid, you can see a support zone from $34,451 to $34,202, and then we have a second zone that protects against a return to $31,000, from $33,797 to $33,511.
Looking the other way, you can see that the price has been rejected by the resistance zone from $34,578 to $34,880, but when we break out of it, there is still resistance at $35,285.
Looking at the CHOP indicator, we see that there is still energy left for a move, while the RSI indicator and the STOCH indicator indicate that we may see a greater price recovery.
After unfolding the trend based fib extension grid, you can see a support zone from $34,451 to $34,202, and then we have a second zone that protects against a return to $31,000, from $33,797 to $33,511.
Looking the other way, you can see that the price has been rejected by the resistance zone from $34,578 to $34,880, but when we break out of it, there is still resistance at $35,285.
Looking at the CHOP indicator, we see that there is still energy left for a move, while the RSI indicator and the STOCH indicator indicate that we may see a greater price recovery.