Bitcoin / Tether

BTC/USDT 4HInterval Review Chart

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Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price is moving above the local uptrend line.

After laying out the FIb Retracement grids, we can see that first we have a support zone from $29,097 to $28,289, and then there is a second strong zone from $26,993 to $26,065.

Looking the other way, we will similarly check the current resistance levels, but here we can clearly see a strong resistance zone from $30,358 to $31,845, only after it is overcome the price will be able to go up further.

When we look at the STOCH indicator, we can see that we are in the process of recovery and there is room for the price to go slightly lower.

Penafian

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