BTC/USD faces strong resistance at $685, break above targets $731/$765
BTC/USD has recovered sharply after making a low of $628 yesterday. It is currently trading at $679 (BITSTAMP). Ichimoku analysis (4 Hour chart): Tenkan-Sen level: $653 Kijun-Sen level: $648 Trend reversal level - (90 da…
BTC/USD has recovered sharply after making a low of $628 yesterday. It is currently trading at $679 (BITSTAMP).
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: $653
Kijun-Sen level: $648
Trend reversal level - (90 day EMA)-$652.89
Both long-term and short-term trend appear bullish for the pair. Major resistance is around $685 (Jun 25 high) and any break above targets $731 (161.8% retracement of $778 and $540)/$765 (Jun 19 high). Short-term support is seen at $659 (7 4H MA) and any violation below will drag the pair till $645 (21 4H MA)/$627 (200 4H MA).
“BTC/USD is facing strong resistance at $685 (Jun 25 high) and minor trend reversal above that level”, FxWirePro said in a statement.
