FxWirePro: BTC/EUR downside capped by 60 –day EMA, good to buy on dips
BTC/EUR is seen trading high on Tuesday and consolidates in a narrow range between 825.90 and 869 for the past five trading days (COINBASE). It is currently trading around 875.42 at the time of writing. Ichimoku analysis…
BTC/EUR is seen trading high on Tuesday and consolidates in a narrow range between 825.90 and 869 for the past five trading days (COINBASE). It is currently trading around 875.42 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 852.95
Kijun-Sen level: 903.17
Major reversal level -775 (89- day EMA)
Long-term trend remains to be bullish. In the daily chart, BTC/EUR formed a minor bottom at 825.90 on Jan 25th, 2017 and any break below 817 (60- day EMA) confirms further weakness.
Major resistance is around 903 (daily Kijun-Sen) and any break above will take the pair to next level till 952 (61.8% retracement of 1111.56 and 694.78)/1000. Short term support is seen at 852.95 (daily Tenken-Sen) and any break below will drag the pair till 817 (60- day EMA)/782 (89-day EMA)/694 (Jan 12th low).
The higher 2026 target implies about $2.59 billion in second-half activity after Bakkt reported $410 million for the first half. A stablecoin-settled card program with Thredd is planned for a 2027 proof of concept.
