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 has moved sideways from the local downtrend line.
After unfolding the Fib Retracement grid, we see that the price holds before the support zone from $26085 to $25913, then there is support at $25668 and then at $25350.
Looking the other way, first resistance is at $26,174, then second resistance at $26,295, then we have a strong resistance zone from $26,422 to $26,594, then strong resistance at $26,809.
Looking at the CHOP indicator we see that there is a lot of energy for the upcoming move, on the RSI we are back around the middle of the range, however looking at the STOCH indicator we see that there is still energy for the price to go lower.
After unfolding the Fib Retracement grid, we see that the price holds before the support zone from $26085 to $25913, then there is support at $25668 and then at $25350.
Looking the other way, first resistance is at $26,174, then second resistance at $26,295, then we have a strong resistance zone from $26,422 to $26,594, then strong resistance at $26,809.
Looking at the CHOP indicator we see that there is a lot of energy for the upcoming move, on the RSI we are back around the middle of the range, however looking at the STOCH indicator we see that there is still energy for the price to go lower.