Technical analysis BTCUSDT for 06.09.2024

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. 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 55700. The closest resistance is the level 56500

Key levels

• 57500, 56500, 55700, 54900, 54000

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 55700, with Take Profit of 54900 and Stop Loss of 56500

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 56500, with Take Profit of 57500 and Stop Loss of 55700