FxWirePro: BTC/GBP hovers around 1350, jump till 1400 likely
BTC/GBP is holding above 1300 mark on Wednesday and currently trading at 1351 levels at the time of writing (Coinfloor). Ichimoku analysis of daily chart: Tenkan Sen: 1234 Kijun Sen: 1147 On the upside, a break above 136…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/GBP is holding above 1300 mark on Wednesday and currently trading at 1351 levels at the time of writing (Coinfloor).
Ichimoku analysis of daily chart:
Tenkan Sen: 1234
Kijun Sen: 1147
On the upside, a break above 1369 (May 09 high) would see the pair testing 1400 (psychological)/1428 (113% extension of 913 and 1369)/1455 (113% extension of 706 and 1369).
Overall trend remains highly bullish: RSI is strong at 90; MACD line is above signal line; and stochs are in overbought zone. However, caution is advised as bearish RSI divergence could be seen on 4-hour and weekly charts.
On the reverse side, support is seen at 1308 (1h 50-SMA) and any violation would drag it to 1282 (5-DMA)/1261(23.6% retracement of 913 and 1369).
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