FxWirePro: BTC/EUR trades in narrow range, break above 860 confirms further bullishness
BTC/EUR is trading in a narrow range between 857.92 and 788 for the past three trading sessions (COINBASE). It is currently trading around 842.32 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-Sen…
BTC/EUR is trading in a narrow range between 857.92 and 788 for the past three trading sessions (COINBASE). It is currently trading around 842.32 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 785
Kijun-Sen level: 903.17
Major reversal level -795 (60- day EMA)
Long-term trend remains to be bullish. In the daily chart, BTC/EUR faces strong resistance around 860 and any break above confirms minor bullishness.
Major resistance is around 860 (38.2% retracement of 1111.56 and 694.78) and any break above will take the pair to next level till 903.17 (daily Kijun-Sen)/952. Short term support is seen at 798 (60- day EMA) and any break below will drag the pair till 760 (89-day EMA)/694 (Jan 12th, 2017 low).
