BTC/GBP faces resistance at 78.6% fibo, break above eyes 611
BTC/GBP failed to break above 78.6% Fibo and is currently trading at 578 levels at the time of writing (Coinbase). Long-term trend: Bullish Short-term trend: Bullish Ichimoku analysis of daily chart: Tenkan Sen: 574.24 K…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/GBP failed to break above 78.6% Fibo and is currently trading at 578 levels at the time of writing (Coinbase).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 574.24
Kijun Sen: 563.78
Trend reversal: 516.18 (90 EMA)
The pair faces immediate resistance at 589.71 levels (78.6% retracement of 601.29 and 547.20). The overall trend remains bullish for the pair and break above this levels would target 601.29 levels (November 09 high)/611.12 (November 03 high).
On the downside, support is seen at 547.20 (November 13) and a break below would weaken it further to 535.30 (November 03 low)/ 516.18 (90 EMA).
The Office of the Comptroller of the Currency finalized its issuer rule on Oct. 21, while a Sept. 15 Senate vote left the broader Digital Asset Market Clarity Act pending.
