FxWirePro: BTC/EUR upside capped by 89- 4H EMA, good to sell on rallies
BTC/EUR has declining after hitting a minor top around 2333 on Jun 30th 2017 (CEXIO). The pair major top is around 2715 (Jun 12th high) and any bullish continuation can be seen below that level. It is currently trading a…
By Sujha Sundararanjan
Updated 1 min read
Image from the original EconoTimes article
BTC/EUR has declining after hitting a minor top around 2333 on Jun 30th 2017 (CEXIO). The pair major top is around 2715 (Jun 12th high) and any bullish continuation can be seen below that level. It is currently trading around 2233.20 at press time.
Ichimoku analysis of 4-hour chart shows:
Tenkan-Sen level: 2193
Kijun-Sen level: 2239
Major reversal level -2310 (89- 4H EMA)
Long-term trend remains to be bullish. BTC/EUR faces strong resistance around 89- 4H EMA and any break above confirms minor bullishness.
Major resistance is around 2307 (89- 4H EMA) and any break above will take the pair to next level till 2375 (200- 4H MA)/2466 (Jun 26th 2017 high)/2550 (76.4% retracement of 2716 and 2015. Short term support is seen at 2239 (4H Kijun –Sen) and any break below will drag the pair down till 2015/1770.
It is good to sell on rallies around 2300-2325 with SL around 2470 for the TP of 2050/1770.
The pricing data could support potential onchain lending, collateral and treasury-management uses. A planned U.S. distribution through tZERO later in 2026 remains subject to due diligence and final approval.
BIT Asset Management expects its BBIT fund to begin trading on SIX Swiss Exchange in November 2026. FINMA granted a risk-diversification exemption and warned that Bitcoin remains highly risky.
