Technical analysis BTCUSDT for 12.07.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 30500. The closest resistance is the level 31000

Key levels

• 31500, 31000, 30500, 30000, 29000

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 31000, with Take Profit of 31500 and Stop Loss of 30500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 30500, with Take Profit of 30000 and Stop Loss of 31000