- BTC/EUR upside is gaining traction, we now see scope for test of cloud base at 10000 levels.
- The pair has broken above major EMAs and momentum studies are bullish.
- Technical studies on daily charts are turning slightly bullish. We now see +ve DMI crossover.
- The pair has broken above 38.2% Fib retracement at 9198. Next major resistance lies at 100-DMA at 9938.
- Break into daily cloud could see further upside. While on the downside, we see bullish invalidation on break below 20-DMA at 7294.
Support levels - 8778 (5-DMA), 8000, 7483 (23.6% Fib)
Resistance levels - 9589 (Jan 28 high), 9938 (100-DMA), 10000 (cloud base)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-BTC-EUR-bounces-off-strong-trendline-support-good-to-go-long-on-dips-1156923) has hit TP1.
Recommendation: Book partial profits at highs, hold for further upside.
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