Technical analysis BTCUSDT for 05.09.2023
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
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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 25575. The closest resistance is the level 25875
Key levels
- 26500, 26200, 25875, 25575, 25250
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 25575, with Take Profit of 25250 and Stop Loss of 25875
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 25875, with Take Profit of 26200 and Stop Loss of 25575
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.