Hello everyone, let's take a look at the BTC to USDT chart on a four-hour time frame. As you can see, the price has returned and remains on the local downtrend line.
When we unfold the Trend-Based Fib Extension grid, we can determine the support zone from $41,250 to $40,716, then support at $39,954, and further support at $38,988.
Looking the other way, there is a strong resistance zone from $43,182 to $43,737, followed by strong resistance around $44,441.
On the RSI indicator, we remain in the middle of the range, but on the STOCH indicator, we are moving at the upper limit, which may result in a price recovery.
When we unfold the Trend-Based Fib Extension grid, we can determine the support zone from $41,250 to $40,716, then support at $39,954, and further support at $38,988.
Looking the other way, there is a strong resistance zone from $43,182 to $43,737, followed by strong resistance around $44,441.
On the RSI indicator, we remain in the middle of the range, but on the STOCH indicator, we are moving at the upper limit, which may result in a price recovery.