FxWirePro: BTC/EUR faces strong support at 5-day MA, good to buy on dips
BTC/EUR is seen trading below in red on Thursday. The pair slightly recovered after declining till 655 yesterday (COINBASE). It is currently trading around 670 at the time of writing. Ichimoku analysis of daily chart sho…
BTC/EUR is seen trading below in red on Thursday. The pair slightly recovered after declining till 655 yesterday (COINBASE). It is currently trading around 670 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 636.60
Kijun-Sen level: 610
Trend reversal level - (100 day MA) – 553
Long-term trend remains to be bullish. In the daily chart, BTC/EUR is facing support at 5- day MA and any slight weakness can be seen only below that level.
Major resistance is around 673.50 (161.8% retracement of 625 and 655) and any violation above will take the pair till 683.11 (88.6% retracement of 715 and 434.58)/700. Short term support is seen at 651.01 (5- day MA) and any break below targets 621 (10- day MA)/608 (21- day MA).
