Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving below the local downtrend line, but now we can mark a triangle from which the price is close to exit.
Let's start with the support line and as you can see the first support in the near future is $16002, if the support is broken then the next support is $15809, $15646 and $15484.
Now let's go from the resistance line, as you can see the first resistance is $16352, if you manage to break it, the next resistance will be $16473, $16580 and $16674.
Looking at the CHOP indicator, we see that in the 4-hour interval, the energy is gaining strength, the MACD indicator indicates entering a local uptrend, while the volume, although it is not large, indicates that the last four hours are in favor of sellers, however, the volume is much smaller than for the earlier ones with a large majority of buyers.
Let's start with the support line and as you can see the first support in the near future is $16002, if the support is broken then the next support is $15809, $15646 and $15484.
Now let's go from the resistance line, as you can see the first resistance is $16352, if you manage to break it, the next resistance will be $16473, $16580 and $16674.
Looking at the CHOP indicator, we see that in the 4-hour interval, the energy is gaining strength, the MACD indicator indicates entering a local uptrend, while the volume, although it is not large, indicates that the last four hours are in favor of sellers, however, the volume is much smaller than for the earlier ones with a large majority of buyers.