BTC/USD hovers around 78.6% fib, further bullishness only above 920
BTC/USD is trying to maintain its strength above 78.6% Fibonacci retracement and is currently trading at 908 levels at press time (Bitstamp). Long-term trend: Bullish Short-term trend: Bullish Ichimoku analysis of daily …
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/USD is trying to maintain its strength above 78.6% Fibonacci retracement and is currently trading at 908 levels at press time (Bitstamp).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 850
Kijun Sen: 830
Trend reversal: 730.14 (90 EMA)
On the upside, a consistent break above 906.95 levels (78.6% retracement of 920 and 859) would target 920 (December 23 high)/957.
On the reverse side, the pair is likely to find support at 882 (5-EMA) and any violation would drag it to 845.38 (10-day MA)/806 (21-day MA).
CEO Phong Le called digital credit the company’s main route to more Bitcoin. A $1 billion to $2 billion STRC issuance in a month was hypothetical, with proceeds potentially split between dollar reserves and purchases.
