Hello everyone, let's look at the BTC to USDT chart in the 4-hour timeframe as you can see we are moving in the downtrend channel marked with the blue lines.
As for support, we should watch BTC price behavior within the channel, as a break below the designated channel can give a quick drop to a strong support zone from $13,172 to $12,709.
On the other hand, when the price starts to rise, we can mark resistance places with green lines and in this situation, the first resistance is at $ 17,771, if the price breaks it, the next resistance is at $ 19,203 and $ 20,352.
As you can see on the one-day interval, we have a lot of energy, the MACD indicator indicates a change in the trend to an upward one, and the volume for the last two days indicates the advantage of sellers, but it is clearly low.
As for support, we should watch BTC price behavior within the channel, as a break below the designated channel can give a quick drop to a strong support zone from $13,172 to $12,709.
On the other hand, when the price starts to rise, we can mark resistance places with green lines and in this situation, the first resistance is at $ 17,771, if the price breaks it, the next resistance is at $ 19,203 and $ 20,352.
As you can see on the one-day interval, we have a lot of energy, the MACD indicator indicates a change in the trend to an upward one, and the volume for the last two days indicates the advantage of sellers, but it is clearly low.