FxWirePro: BTC/EUR upside capped by 21-day EMA, good to sell on rallies
BTC/EUR has declined after making a high of 987.86 yesterday (COINBASE) and is seen trading low on Wednesday. It is currently trading around 943.95 at the time of writing. Ichimoku analysis of daily chart shows: Tenkan-S…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR has declined after making a high of 987.86 yesterday (COINBASE) and is seen trading low on Wednesday. It is currently trading around 943.95 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 932
Kijun-Sen level: 1088
Major reversal level -780 (200- day MA)
Long-term trend remains to be bullish. BTC/EUR faces strong resistance at 21- day EMA, and any break above will take the pair till 1088 (daily Tenken-Sen).
Major resistance is around 1000 (21- day EMA) and any break above will take the pair to next level till 1088 (daily Kijun-sen). Short term support –794 (200- day MA) and any break below will drag the pair till 694 (Jan 12th 2017 low).
