BTC/USD takes support at 21-DMA, break above 778 targets 800
BTC/USD fell to 743 levels on Monday after it hit 778.07 levels on December 02. It currently trades at 748 levels (Bitstamp). Long-term trend: Bullish Short-term trend: Bullish Ichimoku analysis of daily chart: Tenkan Se…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/USD fell to 743 levels on Monday after it hit 778.07 levels on December 02. It currently trades at 748 levels (Bitstamp).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 749.53
Kijun Sen: 730.65
Trend reversal: 681.05 (90 EMA)
On the upside, the pair faces immediate resistance at 760.54 (50% retracement of 778 and 743) and a break above would target 778.07 (December 02 high). A break above this level would confirm further bullishness in the pair and see it testing 799.74 (161.8% retracement of 778.07 and 743).
On the down side, the pair has taken support near 741.22 (21-day MA) and a break below would see a dip till 714 (November 20 low)/ 700.
Long liquidations were $10,000 across Binance, Bybit and OKX. CoinGecko/exchange spot data showed ZEC at $1,296.20, up 1.86% over 24 hours, at 14:55 UTC.
