Daily BTC 4HChart - resistance and support

Apr 18, 2023
Daily BTC 4HChart - resistance and support.png

Hello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is moving in the downtrend channel.

Let's start with the support line and as you can see the first support in the near future is $26692, if the support is broken then the next support is $26063, $25562 and $25071.

Now let's move on to the resistance line, as you can see the first resistance the price is currently fighting is $27380, if it breaks through, the next resistance will be $27744, $28285 and then the fourth resistance at $28934.

Looking at the CHOP indicator, we see that most of the energy has been used, MACD indicates entering a local uptrend, while the RSI approached the upper limit, which quickly gave the price a rebound.