BTC/USD faces strong resistance at 100-DMA, break above confirms bullishness
BTC/USD struggling to break above 100-day MA and is currently trading at 607 levels at the time of writing (Bitstamp). Long-term trend: Bullish Short-term trend: Bullish Ichimoku analysis of daily chart: Tenkan Sen: 605.…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/USD struggling to break above 100-day MA and is currently trading at 607 levels at the time of writing (Bitstamp).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 605.14
Kijun Sen: 610.54
Trend reversal: 597.26 (90 EMA)
“The pair is trading in the red and has taken support near 605.95 (10-day MA). It must break above previous high of 614.28 for further upside and a close above 615.65 (100-day) will confirm bullishness in the pair”, FxWirePro said in a statement.
On the upside, BTC/USD faces strong resistance at 615.65 (100-day MA) and a break above would target 628.99 (September 11 high) and then 651.79 (161.8% retracement of 628.99 and 592.10).
On the reverse side, it has taken support near 605.65 (10-DMA) and a break below would target 600 (psychological levels)/ 597.26 (90 EMA)/ 578.39 (161.8% retracement of 592.10 and 614.28).
The firms plan institutional settlement using Ripple USD (RLUSD) across Bitstamp by Robinhood’s institutional business, plus a separate Ripple Treasury software integration. Robinhood expects app availability later this year.
BNY plans broader tokenized-asset support and direct RLUSD services. Trade-finance work is intended, while a supply-chain finance initiative with C2FO remains exploratory.
