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. 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