FxWirePro: BTC/EUR downside capped by 7 – day EMA, good to buy on dips
BTC/EUR is seen trading well below on Monday. The pair forms a temporary top around 729 and slightly declined from that level (COINBASE). It is currently trading around 713.55 at the time of writing. Ichimoku analysis of…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR is seen trading well below on Monday. The pair forms a temporary top around 729 and slightly declined from that level (COINBASE). It is currently trading around 713.55 at the time of writing.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 708
Kijun-Sen level: 681.90
Trend reversal level - (100 day MA) – 601
Long-term trend remains to be bullish. In the daily chart, BTC/EUR downside is capped by 7- day EMA and slight weakness can be seen only below that level.
Major resistance is around 729 (Dec 2nd high) and any violation above will take the pair till 740 (161.8% retracement of 714.95 and 673)/789 (127.2% retracement of 715 and 673). Short-term support is seen at 700 (10- day MA) and any break below targets 689 (21- day MA)/673 (daily Kijun-Sen)/ 634 (Nov 13th low).
Long liquidations were $10,000 across Binance, Bybit and OKX. CoinGecko/exchange spot data showed ZEC at $1,296.20, up 1.86% over 24 hours, at 14:55 UTC.
