BTC/USDT 4HInterval Chart Review
Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price came out of the local upward trend line.
Let's start by determining the support line and as you can see, the first support in the near future is $64,988, when the price comes out the bottom, the next one is at $63,198 and then at $60,780. Looking further, we can see two important support zones from $59,393 to $57,736 and the other from $55,543 to $53,976.
Looking the other way, you can see resistance at the level of $68,928 and another one at $71,390, then the resistance zone from $73,225 to $75,642 is important, where the recently formed price peak is located, only when the price leaves it the top can move towards the resistance at level of $82,402.
Looking at the RSI indicator, you can see the moment of breaking from the support line, while the STOCH indicator can be seen falling below the lower limit, which confirms the current decline.
Let's start by determining the support line and as you can see, the first support in the near future is $64,988, when the price comes out the bottom, the next one is at $63,198 and then at $60,780. Looking further, we can see two important support zones from $59,393 to $57,736 and the other from $55,543 to $53,976.
Looking the other way, you can see resistance at the level of $68,928 and another one at $71,390, then the resistance zone from $73,225 to $75,642 is important, where the recently formed price peak is located, only when the price leaves it the top can move towards the resistance at level of $82,402.
Looking at the RSI indicator, you can see the moment of breaking from the support line, while the STOCH indicator can be seen falling below the lower limit, which confirms the current decline.