FxWirePro: BTC/GBP faces strong trend line resistance at 750, break above targets 780
BTC/GBP hit 764.42 levels on January 22, but failed to close above the trend line. It continues to hover around this major resistance and is currently trading at 744 levels at press time (Coinbase). Ichimoku analysis of …
BTC/GBP hit 764.42 levels on January 22, but failed to close above the trend line. It continues to hover around this major resistance and is currently trading at 744 levels at press time (Coinbase).
Ichimoku analysis of daily chart:
Tenkan Sen: 718.78
Kijun Sen: 777.50
Trend reversal: 661 (90-EMA)
On the upside, the pair faces strong resistance at 750 levels (trend line joining 467.77 and 611.12) and a decisive break above would target 778.52 (January 08 high)/818.21 (61.8% retracement of 950 and 605.01).
On the flipside, 730.52 (7-DMA) is acting as a strong support for the pair and a break below would target 698.57 (55-EMA)/661 (90-EMA).
The penalty had already been paid, and the CFTC joined the request after a review led the agency to say it would not have brought the case under its current standards.
Bitcoin (BTC) output at Duff fell 23% to 25.63 BTC, while the company cited Memphis hosting and electricity costs as a main factor in higher direct expenses.
