BTC/USDT Long-Term 1DInterval Review
Hello everyone, I invite you to check the current situation on BTC in pair to USDT, taking into account the one-day interval. First, we will use the blue lines to mark the downtrend channel from which the price has gone up, while locally it is worth marking the sideways trend channel in which the BTC price is moving.
We will use the trend based fib extension tool to determine the supports, as we can see now the first support at $30049 held the price, however when it goes lower the next support is at $29180, then the third support at $28402 and then it is worth marking a very strong zone support from $27678 to $26628.
Looking the other way, we can determine the places of resistance in a similar way. And here the first resistance at fibon's golden point is at $31855, before which the price turns back, however when it manages to break it, the second resistance is at $33809 and then the third resistance at $36250.
When we turn on the ema cross 10 and 30, we can see that it indicates a continuation in the ongoing uptrend.
The CHOP index indicates that there is a lot of energy to be used, the MACD indicator indicates a downtrend, and we can see a rebound on the RSI, but we are still in the upper part of the range, which may give the price a rebound.
We will use the trend based fib extension tool to determine the supports, as we can see now the first support at $30049 held the price, however when it goes lower the next support is at $29180, then the third support at $28402 and then it is worth marking a very strong zone support from $27678 to $26628.
Looking the other way, we can determine the places of resistance in a similar way. And here the first resistance at fibon's golden point is at $31855, before which the price turns back, however when it manages to break it, the second resistance is at $33809 and then the third resistance at $36250.
When we turn on the ema cross 10 and 30, we can see that it indicates a continuation in the ongoing uptrend.
The CHOP index indicates that there is a lot of energy to be used, the MACD indicator indicates a downtrend, and we can see a rebound on the RSI, but we are still in the upper part of the range, which may give the price a rebound.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.