Technical analysis BTCUSDT for 03.05.2024
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 58500. The closest resistance is the level 60000
Key levels
- 61600, 60800, 60000, 58500, 57500
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 60000, with Take Profit of 58500 and Stop Loss of 60800
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 60800, with Take Profit of 61600 and Stop Loss of 60000
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.