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BTC/USD trades just shy of trend line resistance, further bullishness only above 800

Tuesday, December 20, 2016 10:30 AM UTC

BTC/USD is struggling to break above the major trend line resistance and is currently trading at 792 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 779.20

Kijun Sen: 757.69

Trend reversal: 706.48 (90 EMA)

Major resistance is seen at 798 levels (trend line joining 745.19 and 778.07) and a consistent break above would send it soaring to 819 (113% retracement of 778.85 and 465.28)/ 864/900.

On the reverse side, the pair has taken support near 779.99 (10-EMA) and a break below would drag it to 767.74 (21-day MA)/743 (December 05 low).

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Digital Currency Revolution

BTC/USD trades just shy of trend line resistance, further bullishness only above 800

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