Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As we can see, the price remains at the upper limit of the downtrend channel
Let's start by determining the support line and as you can see, the first support on which the price is based is $66,150, if the support is broken, the next support is $62,510, then at $59,824, and then the fourth very strong support at the lower border of the channel at $56,532 .
Looking the other way, there is significant resistance at $68,248, and then just above the downtrend channel, there is a strong resistance zone from $72,012 to $74,000.
There is a visible downward trend on the RSI indicator, and each rebound gives room for another price drop, while on the STOCH indicator we remain at the lower limit, which should help maintain the price.
Let's start by determining the support line and as you can see, the first support on which the price is based is $66,150, if the support is broken, the next support is $62,510, then at $59,824, and then the fourth very strong support at the lower border of the channel at $56,532 .
Looking the other way, there is significant resistance at $68,248, and then just above the downtrend channel, there is a strong resistance zone from $72,012 to $74,000.
There is a visible downward trend on the RSI indicator, and each rebound gives room for another price drop, while on the STOCH indicator we remain at the lower limit, which should help maintain the price.