FxWirePro: BTC/EUR faces strong resistance at 715, good to buy on dips
BTC/EUR is seen trading above on Tuesday. The pair breaks once again minor psychological resistance at 700 after declining till 21- day MA (COINBASE). It is currently trading around 702.72 at the time of writing. Ichimok…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR is seen trading above on Tuesday. The pair breaks once again minor psychological resistance at 700 after declining till 21- day MA (COINBASE). It is currently trading around 702.72 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 700
Kijun-Sen level: 669.87
Trend reversal level - (100 days MA) – 593.04
Long-term trend remains to be bullish. In the daily chart, BTC/EUR is facing strong support at 21- day MA and any break below will drag the pair till 645 (55- day EMA).
Major resistance is around 715 (161.8% retracement of 673 and 610)) and any violation above will take the pair till 740 (161.8% retracement of 714.95 and 673). Short term support is seen at 687 (21- day MA) and any break below targets 669 (daily Kijun-Sen)/ 634 (Nov 13th low).
