Technical analysis BTCUSDT for 17.10.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 28300. The closest resistance is the level 28650

Key levels

• 29000, 28650, 28300, 27950, 27700

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 28650, with Take Profit of 29000 and Stop Loss of 28300

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 28300, with Take Profit of 27950 and Stop Loss of 28650