BTC/USDT 1H Interval Review
Hello everyone, let's take a look at the BTC to USDT chart on a one hour timeframe. As you can see, the price is moving below the local downtrend line.
When we unfold the trend based fib extension grid, we see that the first support is at $25,393, then the second support is at $24,987, and then the third support is at $24,645.
Looking the other way, we see price holding a resistance zone from $25,851 to $26,193, then resistance at $26,476, another resistance at $26,747, and then a strong resistance zone from $27,140 to $27,643.
Looking at the CHOP indicator, we see that the energy is rising all the time, the RSI shows a confirmation of the sideways trend, while the STOCH indicator shows that there is a lot of energy that can be used to pull the price down.
When we unfold the trend based fib extension grid, we see that the first support is at $25,393, then the second support is at $24,987, and then the third support is at $24,645.
Looking the other way, we see price holding a resistance zone from $25,851 to $26,193, then resistance at $26,476, another resistance at $26,747, and then a strong resistance zone from $27,140 to $27,643.
Looking at the CHOP indicator, we see that the energy is rising all the time, the RSI shows a confirmation of the sideways trend, while the STOCH indicator shows that there is a lot of energy that can be used to pull the price down.
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