FxWirePro: BTC/EUR trades well below 90- day EMA, good to sell on rallies
BTC/EUR is seen trading well below on Wednesday. The pair has slightly jumped till 527 on Aug 15th after making a low of 511 levels (CEXIO). It is currently trading around 514 at the time of writing. Ichimoku analysis of…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR is seen trading well below on Wednesday. The pair has slightly jumped till 527 on Aug 15th after making a low of 511 levels (CEXIO). It is currently trading around 514 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 524.91
Kijun-Sen level: 516.65
Trend reversal level - (90 days EMA)-536.41
Long-term trend remains to be bullish. In the daily chart, BTC/EUR is trading well below 90 days EMA. So slight decline till 455/427 is possible.
Major resistance is around 536 (90 days EMA) and any break above will take the pair to next immediate resistance at 553 (55 days EMA)/568. Short term support is seen at 510 (Aug 14th low) and any break below targets 504 (23.6% retracement of 529.50 480 (Jun 23rd low)/455 (200 day MA).
Netanyahu requested a review of crypto and blockchain payment options amid concern about possible banking sanctions. Israel’s Knesset election is set for Tuesday, Oct. 27.
