FxWirePro: BTC/EUR breaks below 100-SMA, good to go short on break below 8950

• BTC/EUR has broken strong support at 1H 100-SMA at 9100, intraday bias lower.
   
• Technical studies on hourly charts are bearish. The pair has taken support at 8950 (trendline).
   
• Price action rages below major EMAs on the daily chart. RSI is weak below 50 levels and we see -ve DMI dominance.
   
• Break below 8950 will see further weakness. Scope then for test of 8460 levels (major trendline) ahead of 8100.
   
• On the flipside, the pair finds stiff resistance at 100-DMA at 9532, decisive break above invalidates bearish bias.

Recommendation: Good to go short on break below 8950, SL: 9125, TP: 8460/ 8100/

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