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FxWirePro: BTC/EUR hits fresh all-time high at 1579, good to buy on dips

Tuesday, May 9, 2017 7:09 AM UTC

BTC/EUR hits once again all-time high at 1579 at the time of writing after breaking 1559. The pair formed a minor bottom around 1343 and any minor weakness only below that level (COINBASE). It is currently trading around 1508 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 1383

Kijun-Sen level: 1314

Major reversal level -1300 (21- EMA)

Long-term trend remains to be bullish. BTC/EUR trades well above 1500, a jump till 1625 likely.

Major resistance is around 1580 and any break above will take the pair to next level till 1609 (161.8 projection of 826 1160 to 1069)/1625 (161.8% retracement of 1514 and 1343). Short term support is seen at 1430 (7 day MA) and any break below will drag the pair down till 1380 (daily Tenkan-Sen)/1314 (daily Kijun-Sen).

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Digital Currency Revolution

FxWirePro: BTC/EUR hits fresh all-time high at 1579, good to buy on dips

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