Hello everyone, let’s take a look at the BTC to USDT chart over a 1 day timeframe on 06.09.2022. As you can see, the price is moving below the local downtrend line.
https://www.youtube.com/watch?v=DePyM391AoY
Let’s start with the designation of the support line and as you can see the first support in the near future is $ 18,863, if the support breaks down, the next support is $ 17,721 and $ 16,947.
Now let’s move from the resistance line as you can see the first resistance is $ 20,571, if you can break it the next resistance will be $ 21,703 and $ 22,552.
Looking at the CHOP indicator, we can see that in the 1-day interval some energy has been used, and the MACD indicator indicates that we are still in an upward trend, but we are approaching a downward trend.
Disclaimer: Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Source: https://cryptodaily.co.uk/2022/09/bitcoin-btc-to-usdt-chart-over-a-1-day-timeframe-on-06092022