FxWirePro: BTC/GBP sees resistance at 755, good to go long on break above
BTC/GBP declined to 686.22 levels after hitting a high of 755.81 levels on December 24. It has restored its strength to above 700 levels and is currently trading at 734 levels at the time of writing (Coinbase). Long-term…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/GBP declined to 686.22 levels after hitting a high of 755.81 levels on December 24. It has restored its strength to above 700 levels and is currently trading at 734 levels at the time of writing (Coinbase).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 692.12
Kijun Sen: 670.61
Trend reversal: 585.22 (90 EMA)
On the upside, the pair is currently targeting 755.81 levels (December 24 high) and a break above would see it testing 774.74 (127.2% retracement off 755.81 and 686.22)/ 798.82.
On the flip side, the pair has taken support near 679.65 (10-day MA) and a break below would drag it to 645.42 (21-day MA)/630 (trend line joining 367.10 and 535.30).
CEO Phong Le called digital credit the company’s main route to more Bitcoin. A $1 billion to $2 billion STRC issuance in a month was hypothetical, with proceeds potentially split between dollar reserves and purchases.
