Technical analysis BTCUSD for 27.12.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 16675. The closest resistance is the level 16850

Key levels

• 17225, 17000, 16850, 16675, 16500

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 16850, with Take Profit of 16675 and Stop Loss of 17000

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 17000, with Take Profit of 17225 and Stop Loss of 16850