Will BTC be able to rebound in the coming weeks?
Hello everyone, let's take a look at the BTC to USDT chart in 1 week. As you can see, the price is approaching the uptrend line and we are at a point where price has already rebounded twice.
Let's start with the support line and as you can see we are currently in the support zone from $ 31,251 to $ 28,798, if the support breaks down the next is $ 17,910.
It is worth noting that we currently have a second correction around (55-56)%, it is possible that if the price remains in the support zone, we will experience another upward phase.
Now let's move on from the resistance line as the first resistance is $ 39,444, if you manage to break it, the next resistance will be $ 45,148 and $ 49,712.
Looking at the CHOP indicator, we can see that in Week 1 some energy has been used for the current price decline, but as you can see there is still a lot of energy left, so be careful.
Let's start with the support line and as you can see we are currently in the support zone from $ 31,251 to $ 28,798, if the support breaks down the next is $ 17,910.
It is worth noting that we currently have a second correction around (55-56)%, it is possible that if the price remains in the support zone, we will experience another upward phase.
Now let's move on from the resistance line as the first resistance is $ 39,444, if you manage to break it, the next resistance will be $ 45,148 and $ 49,712.
Looking at the CHOP indicator, we can see that in Week 1 some energy has been used for the current price decline, but as you can see there is still a lot of energy left, so be careful.