FxWirePro: BTC/GBP faces resistance at 776, break above targets 820
BTC/GBP broke above major trend line resistance at 765 on Tuesday and has hit a high of 782.63 levels so far in the day. It is currently trading at 771 levels at press time (Coinbase). Ichimoku analysis of daily chart: T…
BTC/GBP broke above major trend line resistance at 765 on Tuesday and has hit a high of 782.63 levels so far in the day. It is currently trading at 771 levels at press time (Coinbase).
Ichimoku analysis of daily chart:
Tenkan Sen: 742.67
Kijun Sen: 719.30
Trend reversal: 674.49 (90-EMA)
On the upside, the pair is currently facing resistance at 776.53 (upper Bollinger) and a break above would see it testing 818.21 (61.8% retracement of 950 and 605)/876.
Momentum studies suggest a possibility for further uptrend as RSI(14) is at 59 with higher bias; Stochs point north; MACD is also slightly on the bullish side.
On the flipside, the pair has taken support near 765 (trend line joining 467.77and 611.12) and a break below would target 738.15 (7-DMA)/720 (21-DMA).
