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. 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