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BTC/EUR is seen trading slightly below on Thursday after the raise. The pair trades above psychological level of 650 and holds above that level (COINBASE). It is currently trading around 661.36 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 642.50
Kijun-Sen level: 621.37
Trend reversal level - (100 day MA) – 558.02
Long-term trend seems to be bullish. In the daily chart, BTC/EUR faces strong resistance around 673.25 high made on Nov 1st 2016.Any breaks above confirms further bullishness.
Major resistance is around 673 (161.8% retracement of 625 and 655) and any violation above will take the pair till 683.11 (88.6% retracement of 715 and 434.58)/700. Short-term support is seen at 654 (23.6% retracement of 610 and 668) and any break below targets 621.37 (daily Tenken-sen)/610 (Nov 3rd low).
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BTC/EUR faces strong resistance around 673.25, break above targets 700
Thursday, November 10, 2016 4:14 AM UTC
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