FxWirePro: BTC/EUR breaks major trend line resistance at 2280, jump till 2380 likely
BTC/EUR has recovered sharply and broken major trend line resistance at 2280 levels (CEXIO). The pair jumped till 2300 and is currently trading around 2312.37 at the time of writing. The minor bottom is around 2015 and f…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR has recovered sharply and broken major trend line resistance at 2280 levels (CEXIO). The pair jumped till 2300 and is currently trading around 2312.37 at the time of writing. The minor bottom is around 2015 and further selling can be seen only below that level.
Ichimoku analysis of 4-hour chart indicates:
Tenkan-Sen level: 2235
Kijun-Sen level: 2233
Major reversal level -2300 (89- 4H EMA)
Long-term trend remains to be bullish. BTC/EUR breaks trend line resistance at 2280 and a jump till 2344/2466 likely.
Major resistance is around 2300 (89- 4H EMA) and any break above will take the pair to next level till 2382 (200- 4H MA)/2466 (Jun 26th 2017 high)/2550 (76.4% retracement of 2716 and 2015. Short term support is seen at 2233 (4H Kijun–Sen) and any break below will drag the pair down till 2130/2015/1770.
It is good to buy on dips around 2280 with SL around 2230 for the TP of 2380/2465.
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