BTC drops below the ATH from the previous bull market
Hello everyone, let's take a look at the BTC to USDT chart on a 1 day time frame as you can see the price is moving under the downtrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 17,506, if the support breaks down, the next one is $ 11,781 and $ 8,177.
Now let's move from the resistance line as you can see the first resistance is $ 22,064, if you can break it the next resistance will be $ 23,972, $ 25,668 and $ 27,258.
Looking at the CHOP indicator, we can see that on the 1-day interval, each energy recovery gives another price drop, and the MACD indicator shows a downward trend.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 17,506, if the support breaks down, the next one is $ 11,781 and $ 8,177.
Now let's move from the resistance line as you can see the first resistance is $ 22,064, if you can break it the next resistance will be $ 23,972, $ 25,668 and $ 27,258.
Looking at the CHOP indicator, we can see that on the 1-day interval, each energy recovery gives another price drop, and the MACD indicator shows a downward trend.