Hello everyone, let's look at the BTC to USDT chart on one hour time frame, the price is trading below the local falling trend line.
To check the supports, we will use the trend based fib extension tool and as you can see, the first significant support is at $29,481, and then we have strong support at $29,306.
Now let's move on from the resistance line, as you can see the price fights the resistance at $29783, then we have a strong resistance zone from $29930 to $30038 and then resistance at $30172.
The CHOP index indicates that there is energy for further movement, the MAC maintains a downward trend, and the rsi is moving under the downtrend line, only when we exit it can we see the price increase.
To check the supports, we will use the trend based fib extension tool and as you can see, the first significant support is at $29,481, and then we have strong support at $29,306.
Now let's move on from the resistance line, as you can see the price fights the resistance at $29783, then we have a strong resistance zone from $29930 to $30038 and then resistance at $30172.
The CHOP index indicates that there is energy for further movement, the MAC maintains a downward trend, and the rsi is moving under the downtrend line, only when we exit it can we see the price increase.