FxWirePro: BTC/EUR upside capped by 161.8% fibo, good to buy on dips
BTC/EUR is seen dipping below slightly on Wednesday. The pair slightly retreated till 656 after jumping till 673 levels (COINBASE).It is currently trading around 659.53 at the time of writing. Ichimoku analysis of daily …
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR is seen dipping below slightly on Wednesday. The pair slightly retreated till 656 after jumping till 673 levels (COINBASE).It is currently trading around 659.53 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 636.60
Kijun-Sen level: 610
Trend reversal level - (100 day MA) – 553
Long-term trend remains to be bullish. In the daily chart, BTC/EUR is facing strong resistance around 673.50 (161.8% retracement of 625 and 655), further, jump only above that level.
Major resistance is around 673.50 (161.8% retracement of 625 and 655) and any violation above will take the pair till 683.11 (88.6% retracement of 715 and 434.58)/700. Short-term support is seen at 642.89 (5- day MA) and any break below targets 626 (10- day MA)/604 (21- day MA).
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