Technical analysis BTCUSD for 03.05.2022
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward 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 37860. The closest resistance is the level 38770
Key levels
- 42780, 41710, 40740, 39740, 38770, 37860, 36250, 34550
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 37860, with Take Profit of 36250 and Stop Loss of 38770
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 38770, with Take Profit of 40740 and Stop Loss of 37860