Technical analysis BTCUSDT for 08.08.2023
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are directed downward. 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 resistance is the level 26419.00. The closest support is the level 22410.40
Key levels
- 28433.80, 26419.00, 22410.40, 20206.70, 17790.90
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 26419.00, with Take Profit of 28433.80 and Stop Loss of 24532.00
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 22410.40, with Take Profit of 20206.70 and Stop Loss of 24532.00
Scenario
Recommendation
BUY STOP
Entry Point
26419.00
Take Profit
28433.80
Stop Loss
24532.00
Key Levels
28433.80, 26419.00, 22410.40, 20206.70, 17790.90
Alternative scenario
Recommendation
SELL STOP
Entry Point
22410.40
Take Profit
20206.70
Stop Loss
24532.00
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.