BTC/GBP continues trading in a narrow range on Wednesday between 960 and 966 levels. It is currently trading at 962 levels at press time (Coinfloor). Ichimoku analysis of daily chart: Tenkan Sen: 907 Kijun Sen: 859.50 Ov…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/GBP continues trading in a narrow range on Wednesday between 960 and 966 levels. It is currently trading at 962 levels at press time (Coinfloor).
Ichimoku analysis of daily chart:
Tenkan Sen: 907
Kijun Sen: 859.50
Overall trend appears bullish, and further upside could be seen if the pair closes above 970 (trend line joining 936 and 966). A breach of the trend line would then target 1000 (psychological level) and then 1023 (113% retracement of 936 and 616).
On the flipside, support is seen at 939.85 (7-DMA) and a break below could see a dip till 920 (10-DMA)/868.90 (20-DMA).
In the intraday charts, the pair has taken support near 960 (4H 10-SMA) and a break below could see a dip till 950.25 (4H 20-SMA)/930.80 (4H 50-SMA). Intraday bias is neutral.
