BTC/GBP continues to trade in the red on Friday as OKCoin and Huobi suspended Litecoin and bitcoin withdrawals for a month, effective immediately. The pair is currently trading at 781 levels at press time (Coinbase).
Ichimoku analysis of daily chart:
Tenkan Sen: 805.67
Kijun Sen: 767.24
On the downside, the pair has taken support near 771.54 (21-DMA) and a break below would drag it to 750 (January 09 low)/733 (50% retracement of 605 and 861.34)/702.
Momentum studies have turned bearish as RSI(14) is weak at 51, bias lower, Stochs are highly bearish, and MACD is on the verge of a bearish crossover.
On the upside, resistance is seen at 808 (10-EMA) and a break above would see the pair testing 824 (7-DMA)/861.34 (February 09 high).
