Hello everyone, I would like to present an overview of the current situation on BTC in the USDT pair, taking into account the four-hour interval. First, we will use yellow lines to mark the local triangle in which the price is approaching the exit and the direction of further movement.
Going further with the help of the trend based fib extension grid, we will check the resistance areas in the event of increases. And here again we can see resistance at the level of $43,092, while further we have a visible resistance zone from $44,646 to $45,467.
Looking the other way, we can mark support points in the same way when a correction begins. And here the support zone from $42,076 to $41,454 is visible. However, if this zone is broken and we see a bottom exit from the triangle, we may see a drop to the support level of $39,613.
Please pay attention to the RSi indicator, where we have returned to the middle of the range, while the STOCH indicator shows a dynamic movement, which may result in a slight price recovery. As you can see in the CHOP index, there is still energy to make a bigger move.
Going further with the help of the trend based fib extension grid, we will check the resistance areas in the event of increases. And here again we can see resistance at the level of $43,092, while further we have a visible resistance zone from $44,646 to $45,467.
Looking the other way, we can mark support points in the same way when a correction begins. And here the support zone from $42,076 to $41,454 is visible. However, if this zone is broken and we see a bottom exit from the triangle, we may see a drop to the support level of $39,613.
Please pay attention to the RSi indicator, where we have returned to the middle of the range, while the STOCH indicator shows a dynamic movement, which may result in a slight price recovery. As you can see in the CHOP index, there is still energy to make a bigger move.