FxWirePRO: BTC/EUR faces strong support at daily Kijun-Sen, buy on dips
BTC/EUR is seen trading slightly above on Tuesday. The pair has recovered sharply till 875 after declining till 808 levels (COINBASE). It is currently trading around 868.85 at the time of writing. Ichimoku analysis of da…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR is seen trading slightly above on Tuesday. The pair has recovered sharply till 875 after declining till 808 levels (COINBASE). It is currently trading around 868.85 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 818
Kijun-Sen level: 793
Minor weakness level – 804 (10- day MA)
Major reversal level -673 (Nov 20th low)
Long-term trend remains to be bullish. In the daily chart, BTC/EUR faces minor support at 5- day EMA around 849 and any break below will drag the pair down till 800. Short term trend is still bullish as long as support 800 holds.
Major resistance is around 889 (161.8% retracement of 715.65 and 434.78) and any break above will take the pair to next level till 940/1000. Short term support is at 849 (5-day EMA) and any break below will drag the pair till 815 (10- day MA)/793 (daily Kijun-Sen) 699 (Dec 6th 2016 low).
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.
