FxWirePro: BTC/GBP holds above 50-DMA, good to go long
BTC/GBP breached 50-DMA on Monday and hit 927 levels. It is continuing its uptrend today and is currently trading at 926 levels at press time (Coinfloor). Ichimoku analysis of daily chart: Tenkan Sen: 848.50 Kijun Sen: 8…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/GBP breached 50-DMA on Monday and hit 927 levels. It is continuing its uptrend today and is currently trading at 926 levels at press time (Coinfloor).
Ichimoku analysis of daily chart:
Tenkan Sen: 848.50
Kijun Sen: 895.50
Momentum studies remain bullish and the pair is likely to face resistance at 940.22 (61.8% retracement of 1085 and 706). Further strength would see the pair testing 966 (February 24 high)/1003.
On the flipside, support is seen at 907 (50-DMA) and any violation would drag it to 893.20 (5-DMA)/873 (Cloud base).
Recommendation: Good to go long around 907/927. TP: 966/1000. SL: 890
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