Hello everyone, let's take a look at the BTC to USDT chart on a 15-minute time frame. As you can see, the price remains above the local downtrend line.
When we unfold the Trend Based Fib Extension grid, we can determine significant support at the level of $36,372, while we still have a strong support zone from $35,447 to $34,954.
Looking the other way, there is a significant resistance zone from $37,807 to $38,070, which is stopping the price from further upward movements.
Looking at the CHOP indicator, we see that there is a lot of energy for the move, on the RSI indicator, despite the recovery, there is a lot of room for further declines, on the STOCH indicator we are again approaching the upper limit, which may also indicate an upcoming price drop.
When we unfold the Trend Based Fib Extension grid, we can determine significant support at the level of $36,372, while we still have a strong support zone from $35,447 to $34,954.
Looking the other way, there is a significant resistance zone from $37,807 to $38,070, which is stopping the price from further upward movements.
Looking at the CHOP indicator, we see that there is a lot of energy for the move, on the RSI indicator, despite the recovery, there is a lot of room for further declines, on the STOCH indicator we are again approaching the upper limit, which may also indicate an upcoming price drop.