BTC/USDT 4HInterval 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 is moving above the local uptrend line.
When we spread the trend based fib extension grid, we can determine the support zone from $27,411 to $27,084, but when this zone is broken, we still have strong support at $26,141.
Looking the other way, you can see that the price was rejected by the resistance at $28,156, then we have a second resistance at $28,467, and then a strong resistance zone from $28,783 to $29,218.
Looking at the CHOP indicator, we can see that the collected energy is used to increase the price, but the STOCH indicator shows that we have approached the upper limit, which resulted in a recovery, while the RSI indicator has returned to the middle of the range, but there is still a lot of room for recovery.
When we spread the trend based fib extension grid, we can determine the support zone from $27,411 to $27,084, but when this zone is broken, we still have strong support at $26,141.
Looking the other way, you can see that the price was rejected by the resistance at $28,156, then we have a second resistance at $28,467, and then a strong resistance zone from $28,783 to $29,218.
Looking at the CHOP indicator, we can see that the collected energy is used to increase the price, but the STOCH indicator shows that we have approached the upper limit, which resulted in a recovery, while the RSI indicator has returned to the middle of the range, but there is still a lot of room for recovery.
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