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BTC/EUR faces strong resistance at 742, break above targets 789

Thursday, December 15, 2016 7:40 AM UTC

BTC/EUR is seen trading in an increased pace on Thursday. The pair jumped slightly after declining till 731 levels yesterday (COINBASE). It is currently trading around 740.73 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 720.37

Kijun-Sen level: 707.61

Trend reversal level - (100 days MA) – 619.48

Long-term trend remains to be bullish. In the daily chart, BTC/EUR faces major resistance at 742 and any break above will take the pair till 789/800.

Major resistance is around 742 (Dec 12th, 2016 high) and any violation above will take the pair till 789 (127.2% retracement of 715 and 673)/800. Short term support –730 (7- day EMA) and any break below targets 707 (daily Kijun-Sen)/ 673 (Nov 20th, 2016 low)/634 (Nov 13th low).

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Digital Currency Revolution

BTC/EUR faces strong resistance at 742, break above targets 789

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