FxWirePro: BTC/EUR finds stiff resistance at 20-DMA (7582), upside only on break above

• BTC/EUR is struggling to extend break above 200-DMA, intraday bias is slightly bullish.
   
• The pair is trading 8.35% higher on the day at around 7146 levels at the time of writing.
   
• Price is retracing from multi-month lows of 4712, decisive breakout above 200-DMA could see further upside.
   
• Technical studies are turning bullish, RSI and Stochs are showing a rollover from oversold levels.
   
• MACD is on verge of bullish crossover, which if completed will add to the bullish bias.
   
• Upside finds stiff resistance at 20-DMA at 7582. Breakout could see further upside.
   
• On the flipside, failure at 200-DMA will invalidate bullish bias. Scope for test of 5500 levels.

Support levels - 6776 (200-DMA), 6910 (5-DMA), 5488 (78.6 % Fib retrace of 2502 to 16457 rally), 5000, 4712 (Feb 6 low)

Resistance levels - 7483 (23.6% Fib retrace of 16457 to 4712 fall), 7500 (Feb 4 high), 7583 (20-DMA)

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