Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving above the local uptrend line.
Let's start with the support line and as you can see the first support in the near future is $16766, if the support is broken then the next support is $16671 and $16597.
Now let's go to the resistance line, as you can see the first resistance is $16898, if you manage to break it, the next resistance will be $16984, $17054 and $17122.
Looking at the CHOP indicator, we see that in the 4-hour interval we still have energy for the next move, the MACD confirms the local uptrend, but the RSI is in the upper part of the range, which may indicate a small correction.
Let's start with the support line and as you can see the first support in the near future is $16766, if the support is broken then the next support is $16671 and $16597.
Now let's go to the resistance line, as you can see the first resistance is $16898, if you manage to break it, the next resistance will be $16984, $17054 and $17122.
Looking at the CHOP indicator, we see that in the 4-hour interval we still have energy for the next move, the MACD confirms the local uptrend, but the RSI is in the upper part of the range, which may indicate a small correction.