BTC/EUR faces strong support at 600, break below targets 560
BTC/EUR is seen trading well below in red on Thursday. The pair has declined slightly after making a high of 610.95 levels (CEXIO) yesterday. It is currently trading at 602.3 at the time of writing. Ichimoku analysis of …
BTC/EUR is seen trading well below in red on Thursday. The pair has declined slightly after making a high of 610.95 levels (CEXIO) yesterday. It is currently trading at 602.3 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 600.81
Kijun-Sen level: 592.89
Trend reversal level - (90 4H EMA)-525
Long-term trend remains to be bullish. BTC/EUR faces strong support at 600. So, a slight weakness only below that level.
Major resistance is around 619 (Jul 17th high) and any break above will take the pair to next immediate resistance at 635 (24th Jun high)/656 (127.2% retracement of 635 and 562). Short term support is seen at 600 (daily Tenken-Sen) and any break below targets 575 (38.2% retracement of 483 and 635) 555 (Jul 7th low).
Covered calls use shares as collateral, while cash-secured puts reserve USDC for a possible purchase. Alpaca Securities LLC handles custody and settlement for Binance users.
