Hello everyone, I invite you to review the current situation of BTC in pair USDT taking into account the interval of four hours. First, we will use the blue lines to mark the uptrend channel from which the price went down, as we can see currently, despite the rapid rebound, it failed to maintain the level above the local downtrend line.
Now we can move on to marking the places of support in case of returning to the correction. And here we first have support at $ 28459, then we have support at $ 27978, third support at $ 27498, and then a strong support where price rebounded multiple times at $ 26818.
Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. First, we will mark a strong resistance zone from $ 29232 to $ 29744, when we manage to break it, we have another very strong resistance at $ 30518, and then the third at $ 31511, only when we manage to break it and positively test the price will paved the way for further growth.
It is worth looking at the EMA Cross 10 and 30, which indicate an uptrend, it is worth watching if the red line of the EMA Cross 10 does not start turning back, which could indicate a change in the trend.
Please pay attention to the CHOP index which indicates that the energy is being collected, the MACD indicator indicates that we are on the verge of returning to a downtrend, while the RSI shows that the rapid price increase caused the indicator to overheat, which ended with an equally rapid rebound, but now we are moving in the upper part, so care should be taken before the next release.