Technical analysis BTCUSD for 05.05.2022
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed 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 38770. The closest resistance is the level 39740
Key levels
- 42780, 41740, 40740, 39740, 38770, 37500
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 39740, with Take Profit of 38770 and Stop Loss of 40300
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 40740, with Take Profit of 41740 and Stop Loss of 39740