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 dynamically moved up from the local downward trend line.
When we unfold the trend based fib extension grid, we will see that we have approached the important resistance level of $38,258, and when the price positively tests it, we can see an attempt to increase towards the resistance level of $39,213.
Looking to the other side, there is a resistance zone from $37,795 to $37,548, and then we have a strong zone from $36,861 to $36,506.
Looking at the CHOP indicator, we see that energy is running out in the short term, on RSI we have exceeded the upper limit, which has slowed down the growth and may result in a rebound, also the STOCH indicator is beyond the upper limit, which may have a similar effect as on RSI.
When we unfold the trend based fib extension grid, we will see that we have approached the important resistance level of $38,258, and when the price positively tests it, we can see an attempt to increase towards the resistance level of $39,213.
Looking to the other side, there is a resistance zone from $37,795 to $37,548, and then we have a strong zone from $36,861 to $36,506.
Looking at the CHOP indicator, we see that energy is running out in the short term, on RSI we have exceeded the upper limit, which has slowed down the growth and may result in a rebound, also the STOCH indicator is beyond the upper limit, which may have a similar effect as on RSI.