Thursday, October 15, 2026

Digital Currency / Technicals

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FxWirePro: BTC/EUR on verge of 'Symmetric Triangle' breach, stay short below 5355

BTC/EUR trades 5.30% lower on the day as crypto markets saw bloodbath on Thursday's trade. Major crypto pairs have seen a sharp drop after a prolonged period of sideways trade. Today's drop has likely kick-started a bear…

By FxWirePro Team
1 min read
FxWirePro: BTC/EUR on verge of 'Symmetric Triangle' breach, stay short below 5355
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  • BTC/EUR trades 5.30% lower on the day as crypto markets saw bloodbath on Thursday's trade.
     
  • Major crypto pairs have seen a sharp drop after a prolonged period of sideways trade.
     
  • Today's drop has likely kick-started a bearish move in the pair.
     
  • Technical studies on the daily charts have turned bearish. Stochs and RSI have fallen sharply.
     
  • Price action has broken down the lower Bollinber Band and we see volatility is rising.
     
  • The pair is trading in a 'Symmetric Triangle' pattern and finds strong support at triangle base at 5355.
     
  • Break below 5355 raises scope for test of 5000 levels. Bearish invalidation only on break above Triangle top.

Recommendation: Good to stay short on break below 5355, SL: 5500, target 5000

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex. 
 

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