Hello everyone, let’s take a look at the BTC to USDT chart in 1 hour timeframe. As you can see, the price is moving in the local downtrend channel .

Let’s start with marking the support line and as you can see the first stop loss should be set at SL1 – $ 35,868, if the support breaks, the next stop loss that should be taken into account in the next few hours is: SL2 – $ 35698, SL3 – $ 35507, SL4 – 35260 $ and SL5 – $ 34508.

Now let’s move on from the resistance line, as you can see, the first resistance is target 1 – $ 36,378, if you can break it, the next resistance will be target 2 – $ 37,058, the next one is target 3 – $ 37,631 and target 4 – $ 38,226.

Looking at the CHOP indicator , we can see that we have a lot of energy in the 1 hour interval, so it is worth being careful and securing your stop loss positions.