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BTC/EUR is showing some sort of recovery after declining till 1060 on Feb 25th, 2017 low (COINBASE). It is currently trading around 1126 at the time of writing. The overall trend is extremely bullish and any minor weakness can be seen only below 1029 (21- day EMA).
Ichimoku analysis of daily chart indicates:
Tenkan-Sen level: 1072
Kijun-Sen level: 1015.95
Major reversal level -865 (89- day EMA)
Long-term trend remains to be bullish. The pair upside is capped by 113% fibo and any break above confirms further bullish continuation.
Major resistance is around 1168 (113% retracement of 1111.56 and 694.78) and any break above will take the pair to next level till 1215 (161.8% retracement of 1156 and 1060). Short term support is seen at 1074 (10- day MA) and any break below will drag the pair till 1015.95 (daily Kijun-Sen)/982 (61.8% retracement of 875 and 1156).
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FxWirePro: BTC/EUR faces strong resistance at 113% fibo, break above targets 1215
Tuesday, February 28, 2017 8:50 AM UTC
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