Daily review of BTC interval 1W
Hello everyone, due to the hot situation on BTC, I invite you to review the BTCUSDT chart on the 1W interval.
Let's start by marking the upward trend line, which lasted from March 2020 to November 2021, then we started the decline that continues until today, and so the price is under the current downward trend line. It is worth adding that the price is currently moving in the side channel which ranges from about $ 18,000 to $ 25,000.
Let's move on to the determination of the support and here the support zone from $ 18,415 to $ 17,259 is immediately visible, but if the price does not stay in the current zone and goes down, we can see a drop in the price even to around $ 13,000.
Assuming that the price, however, remains at its level, it is worth looking at the chart more optimistically and here we will move on to several resistance points and how the price may move in this situation.
The first resistance that btc has to pass is $ 19874, the next one is $ 20,967, then we have a resistance zone from $ 22,589 to $ 25,318, only breaking this zone can give further increases towards the resistance at $ 29,543 and further at $ 37,114.
It is worth paying attention to the CHOP Index which indicates that we have a lot of energy to make the next move, while the MACD indicator shows that we are still in an uptrend.
Let's start by marking the upward trend line, which lasted from March 2020 to November 2021, then we started the decline that continues until today, and so the price is under the current downward trend line. It is worth adding that the price is currently moving in the side channel which ranges from about $ 18,000 to $ 25,000.
Let's move on to the determination of the support and here the support zone from $ 18,415 to $ 17,259 is immediately visible, but if the price does not stay in the current zone and goes down, we can see a drop in the price even to around $ 13,000.
Assuming that the price, however, remains at its level, it is worth looking at the chart more optimistically and here we will move on to several resistance points and how the price may move in this situation.
The first resistance that btc has to pass is $ 19874, the next one is $ 20,967, then we have a resistance zone from $ 22,589 to $ 25,318, only breaking this zone can give further increases towards the resistance at $ 29,543 and further at $ 37,114.
It is worth paying attention to the CHOP Index which indicates that we have a lot of energy to make the next move, while the MACD indicator shows that we are still in an uptrend.
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