BITCOIN/TETHER
Hello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price is moving in the lower part of the channel marked with white lines.
Let's start by determining support and here, first of all, you can see a strong support zone from $67,238 to $66,289, while further support is visible at a level close to $65,000.
Now let's move on to determining the resistance points. And here we see resistance at the level of $68,240, then we have a second resistance at $69,299, and then the resistance zone from $70,041 to $70,959 is important, only when the price positively tests it will we be able to see new increases.
Looking at the EMA Cross 50 and 200 indicator, they indicate the continuation of the local downward trend.
The RSI indicator, which remains near the middle of the range, has room for movement in both directions, while the STOCH indicator remains in the upper part, which may again translate into a recovery movement.
