Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price has fallen below the local uptrend line.
Let's start with the support line and as you can see the first support in the near future is $16919, if the support is broken then the next support is $16825, $16688 and $16512.
Now let's move to the resistance line, as you can see the first resistance is $17206, if you manage to break it, the next resistance will be $17398, $17558 and $17710.
Looking at the CHOP indicator, we see that in the 4-hour interval, most of the energy has been used, the MACD indicator indicates that we are close to entering a local downtrend, while the volume showed a decreasing candle on the sellers side, and the new candle is starting to glow green, however, the volume is very low .
Let's start with the support line and as you can see the first support in the near future is $16919, if the support is broken then the next support is $16825, $16688 and $16512.
Now let's move to the resistance line, as you can see the first resistance is $17206, if you manage to break it, the next resistance will be $17398, $17558 and $17710.
Looking at the CHOP indicator, we see that in the 4-hour interval, most of the energy has been used, the MACD indicator indicates that we are close to entering a local downtrend, while the volume showed a decreasing candle on the sellers side, and the new candle is starting to glow green, however, the volume is very low .