BTC/EUR is seen trading well above on Tuesday. The pair breaks major resistance at 761 and jumped till 764.90 yesterday (COINBASE). It is currently trading around 765 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 745.55
Kijun-Sen level: 725.9
Trend reversal level - (100 days MA) – 631
Long-term trend remains to be bullish. In the daily chart, BTC/EUR trades well above 161.8% projection and a jump till 789 is possible.
Major resistance is around 762 (Dec 17th, 2016 high) and any violation above will take the pair till 789 (127.2% retracement of 715 and 673)/800. Short-term support is seen at 751 (7- day EMA) and any break below targets 725.90 (daily Kijun-Sen)/ 699 (Dec 6th, 2016 low)/673 (Nov 20th, 2016 low)/634 (Nov 13th low).
