BTC rebound possible after yesterday's correction
Hello everyone, let's take a look at the BTC to USDT chart on a 1 day timeframe. As you can see, the price is moving in the uptrend channel marked by the blue lines.
Let's start by marking the resistance line, as you can see, the first resistance is $ 41,132, if you can break it, the next resistance will be $ 42,705, another resistance at $ 44,120 and $ 45,379.
Now let's move on to the designation of the support line and as you can see the first support where the price is currently at is $ 39,244, if the support breaks down, the next one is $ 38,143 and another one at $ 37,003.
Looking at the CHOP indicator, we can see that in the 1-day interval, despite yesterday's correction, we have a lot of energy for a new move. On the other hand, the MACD indicator shows that we are still in an uptrend.
Let's start by marking the resistance line, as you can see, the first resistance is $ 41,132, if you can break it, the next resistance will be $ 42,705, another resistance at $ 44,120 and $ 45,379.
Now let's move on to the designation of the support line and as you can see the first support where the price is currently at is $ 39,244, if the support breaks down, the next one is $ 38,143 and another one at $ 37,003.
Looking at the CHOP indicator, we can see that in the 1-day interval, despite yesterday's correction, we have a lot of energy for a new move. On the other hand, the MACD indicator shows that we are still in an uptrend.
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