BTC/GBP is trading in a close range on Friday as it faces resistance at 161.8% extension of 706 and 1461 rally. It is currently trading at 1902 levels at the time of writing (Coinfloor). Ichimoku analysis of daily chart:…
BTC/GBP is trading in a close range on Friday as it faces resistance at 161.8% extension of 706 and 1461 rally. It is currently trading at 1902 levels at the time of writing (Coinfloor).
Ichimoku analysis of daily chart:
Tenkan Sen: 1796.50
Kijun Sen: 1669.50
On the upside, the pair faces resistance at 1927.59 (161.8% extension of 706 and 1461) and a break above would target 1980 (78.6% retracement of 2118 and 1475) /2040 (241.4% extension of 706 and 1259)/2118 (May 25 high).
Momentum studies appear bullish as RSI is strong at 72 and stochs suggest higher bias.
Support is seen at 1827 (23.6% retracement of 1475 and 1937) and a break below would see a dip till 1769 (10-EMA)/1706/1638 (20-DMA).
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