FxWirePro: BTC/EUR downside capped by 7-day MA, good to buy on dips
BTC/EUR is seen trading slightly above on Monday and the pair has shown a minor dip till 1104 and slightly recovered from that level. It is currently trading around 1144.63 at press time. Ichimoku analysis of daily chart…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR is seen trading slightly above on Monday and the pair has shown a minor dip till 1104 and slightly recovered from that level. It is currently trading around 1144.63 at press time.
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 1075
Kijun-Sen level: 1009
Major reversal level -817 (200- day MA)
Long-term trend remains to be bullish. BTC/EUR downside capped by 7 – day MA and any break below confirms minor weakness.
Major resistance is around 1135 (Ichimoku cloud) and any break above will take the pair to next level till 1150 (61.8% retracement of 1350 and 826)/1188 (Mar 14th, 2017 high)/1235 (Mar 3rd, 2017 high). Short term support is seen at 1104 (7- day MA) and any break below will drag the pair down till 1072 (23.6% retracement of 826 and 1148) /1009 (daily Kijun-Sen)/989 (89- day EMA).
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