BTC 4hInterval Chart
Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has returned below the local downtrend line.
When we unfold the Trend based Fib Extension tool, we can see that the price is approaching the support level of $35,977, and then we have a strong support zone from $35,431 to $34,748.
Looking the other way, the resistance level is again the $37,300 level, and then the price will move towards the zone from $38,069 to $38,608, before which the price is rejected.
Looking at the CHOP indicator, we see that there is some energy for the move, the RSI indicator, similarly to the STOCH indicator, shows a current rebound, but there is also room for further price decline.
When we unfold the Trend based Fib Extension tool, we can see that the price is approaching the support level of $35,977, and then we have a strong support zone from $35,431 to $34,748.
Looking the other way, the resistance level is again the $37,300 level, and then the price will move towards the zone from $38,069 to $38,608, before which the price is rejected.
Looking at the CHOP indicator, we see that there is some energy for the move, the RSI indicator, similarly to the STOCH indicator, shows a current rebound, but there is also room for further price decline.
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