Technical analysis BTCUSD for 20.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 18700. The closest resistance is the level 19100

Key levels

• 20000, 19600, 19100, 18700, 18350, 17750

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 19100, with Take Profit of 18700 and Stop Loss of 19500

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 19600, with Take Profit of 20000 and Stop Loss of 19480