FxWirePro: BTC/EUR faces strong resistance at 200 4H MA, good to buy on dips
BTC/EUR has shown minor weakness after hitting a high of 2332 levels (CEXIO). The pair’s minor bottom is around 2015 and further selling can be seen only below that level. It is currently trading around 2269 at press tim…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR has shown minor weakness after hitting a high of 2332 levels (CEXIO). The pair’s minor bottom is around 2015 and further selling can be seen only below that level. It is currently trading around 2269 at press time.
Ichimoku analysis of 4-hour chart shows:
Tenkan-Sen level: 2286
Kijun-Sen level: 2235
Major reversal level -2385 (200- 4H EMA)
Long-term trend remains to be bullish. BTC/EUR faces strong resistance at 200- 4H MA and break above confirms minor bullishness.
Major resistance is around 2355 (61.8% retracement of 2494 and 2015) 2385 (200- 4H EMA) and any break above will take the pair to next level till 2385 (200- 4H MA)/2466 (Jun 26th 2017 high)/2550 (76.4% retracement of 2716 and 2015.
Short term support is seen at 2235 (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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