Hello everyone,
Today we will check the BTC to USDT chart on a one-day basis.
Let’s start by identifying the downtrend line that the price has broken as you can see.
Let’s move on to determining the support line that the price has in the event of a correction, the first support will be at $ 42,716, while if it does not hold the price, the next support will be at $ 40 ,724 and $ 39,275. Next we have a fundamental support zone ranging from $ 31,272 to $ 28,798.
Now let’s move on to determining the resistance that the price has to overcome and we can see that the first resistance is $ 46,700, if we can break it, the next resistance is $ 51,046 and $ 55,302.
The CHOP indicator shows that the energy in the 1-day interval has increased and is used a little bit for the growth movement. We are also approaching the intersection of the red line and the blue line from below, which may confirm the upward trend on the MACD indicator.