FxWirePro: BTC/GBP faces strong resistance at 10-DMA, bias neutral
BTC/GBP continues rangebound trading on Thursday as it faces strong resistance from 10-DMA). It is currently trading at 947 levels at the time of writing (Coinfloor). Ichimoku analysis of daily chart: Tenkan Sen: 954 Kij…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/GBP continues rangebound trading on Thursday as it faces strong resistance from 10-DMA). It is currently trading at 947 levels at the time of writing (Coinfloor).
Ichimoku analysis of daily chart:
Tenkan Sen: 954
Kijun Sen: 875
On the upside, a close above 947 (10-DMA) will see a jump till 974 (trend line joining 1085 and 995). Further strength would see it testing 995 (April 12 high)/1038 (March 14 high).
Momentum studies appear neutral and traders are preferred to wait for a confirmed signal on daily charts.
Support is seen at 924.68 (50-DMA) and a break below would drag it to 905.56 (55-EMA)/870.61 (90-EMA).
The tokens reached Binance over about an hour on Oct. 19, with an average deposit valuation of $0.2013 per token and a combined value of about $3.64 million.
