FxWirePro: BTC/GBP faces strong resistance at 113% fib, close above confirms further upside
BTC/GBP is trading in a close range on Monday as it resistance from 113% retracement of 936 and 616. It is currently trading at 972 levels at the time of writing (Coinfloor). Ichimoku analysis of daily chart: Tenkan Sen:…
BTC/GBP is trading in a close range on Monday as it resistance from 113% retracement of 936 and 616. It is currently trading at 972 levels at the time of writing (Coinfloor).
Ichimoku analysis of daily chart:
Tenkan Sen: 955.50
Kijun Sen: 907.50
On the upside, the pair faces strong resistance at 977.60 (113% retracement of 936 and 616) and a close above would target 1003.89 (78.6% retracement of 1085 and 706)/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 960.28 (7-DMA) and a break below would drag it to 939 (April 22 low)/919.80 (50-DMA).
