BTC/USD eyes 90-day EMA, close above confirms further upside
BTC/USD is struggling to hold its ground above 21-day MA and is currently trading at 579.75 levels at the time of writing (Bitstamp). Ichimoku analysis of daily chart: Tenkan Sen: 569.12 Kijun Sen: 561.58 Trend reversal:…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/USD is struggling to hold its ground above 21-day MA and is currently trading at 579.75 levels at the time of writing (Bitstamp).
Ichimoku analysis of daily chart:
Tenkan Sen: 569.12
Kijun Sen: 561.58
Trend reversal: 591.96 (90 EMA)
“BTC/USD is slowly approaching 90 EMA and a close above would confirm further bullishness in the pair”, FxWirePro said in a statement.
Long-term trend is bullish for the pair and it faces major resistance at 591.96 (90 EMA) and a break above will send it to 604 (100-day MA)/634 (161.8% retracement of 603 and 552.30). On the reverse side, support is seen at 550 (psychological level) and break below would target 514 (200-day MA)/465.28 (August 2 low).
XLM's chart readings were bearish on four-hour and weekly views but bullish on the daily chart. The Sunday quote was below Saturday's snapshot, taken at a different time.
