FxWirePro: BTC/GBP hovers around all-time high at 1050, bias higher
BTC/GBP hit a fresh all-time high of 1050 levels on Thursday and is currently hovering around this level at the time of writing (Coinfloor). Ichimoku analysis of daily chart: Tenkan Sen: 964 Kijun Sen: 900 Momentum studi…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/GBP hit a fresh all-time high of 1050 levels on Thursday and is currently hovering around this level at the time of writing (Coinfloor).
Ichimoku analysis of daily chart:
Tenkan Sen: 964
Kijun Sen: 900
Momentum studies suggest extremely bullish bias with no signs of reversal on daily charts. Resistance is now seen at 1061.20 (127.2% extension of 616 and 966) and a break above would target 1100 (psychological)/1133 (161.8% retracement of 936 and 616).
Caution is advised as stochs and RSI(14) are in the highly overbought zone. Watch out for a close below 977 (5-DMA) for a possibility of minor reversal. Immediate support is seen at 1032.60 (4H 5-SMA) and a break below would target 977 (5-DMA)/950 (10-DMA).
