BTC/USDT Short-Term Review
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 downtrend line.
After unfolding the Fib Retracement grid, we have a visible support zone from $26,493 to $26,192, then a second strong zone from $25,891 to $25,455, and then strong support at $24,884.
Looking the other way, we have a strong resistance zone from $26,916 to $27,463, which has rejected the price increase, but when it is broken, there is still strong resistance at $28,181.
Looking at the CHOP indicator, we see that the energy has been used, and on the RSI we have a strong rebound to the lower limit, which stopped further declines.
After unfolding the Fib Retracement grid, we have a visible support zone from $26,493 to $26,192, then a second strong zone from $25,891 to $25,455, and then strong support at $24,884.
Looking the other way, we have a strong resistance zone from $26,916 to $27,463, which has rejected the price increase, but when it is broken, there is still strong resistance at $28,181.
Looking at the CHOP indicator, we see that the energy has been used, and on the RSI we have a strong rebound to the lower limit, which stopped further declines.
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