BTC/USD faces resistance at 755, break above targets 778
BTC/USD declined to 714 levels after it hit 755 levels on November 19. It is currently trading at 730 levels at the time of writing (Bitstamp). Long-term trend: Bullish Short-term trend: Bullish Ichimoku analysis of dail…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/USD declined to 714 levels after it hit 755 levels on November 19. It is currently trading at 730 levels at the time of writing (Bitstamp).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 719.15
Kijun Sen: 703.38
Trend reversal: 656.04 (90 EMA)
The pair must break above the previous high of 755 levels (November 19) for further upside. A consistent break above this level would see it testing 778.85 (June 18 high)/800 (psychological level).
On the reverse side, support is seen at 716.70 (21-day MA) and any violation would see a dip till 683 (November 13 low)/ 670 (November 03 low).
The sender was not identified, and the transfer does not establish Binance’s net USDT flow; a separate one-hour reading recorded a 44.219 million USDT outflow on Oct. 27.
