FxWirePro: BTC/EUR upside capped by ichimoku cloud, good to buy on dips
BTC/EUR is seen trading high on Thursday. The pair has broken the major resistance of 903 yesterday after long consolidation between 694 and 880 for the past one month (COINBASE). It is currently trading around 919.23 at…
BTC/EUR is seen trading high on Thursday. The pair has broken the major resistance of 903 yesterday after long consolidation between 694 and 880 for the past one month (COINBASE). It is currently trading around 919.23 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 852.95
Kijun-Sen level: 903.17
Major reversal level -775 (89- day EMA)
Long-term trend remains to be bullish. In the daily chart, BTC/EUR faces strong resistance at 942 (cloud top) and any break above will take the pair till 1000 level.
Major resistance is around 942 (cloud top) and any break above will take the pair to next level till 1000/1028 (161.8% retracement of 900 and 694.78). Short term support is seen at 874 (daily Tenken-Sen) and any break below will drag the pair till 841 (21- day MA)/822 (60-day EMA).
Coinglass data showed a 15,465 BTC net increase over seven days and a 22,456 BTC decline over 30 days. Binance BTCUSDT volume rose across Asian, European and U.S. sessions on Oct. 15.
