FxWirePro: BTC/GBP upside capped by 10-DMA, break below 50-DMA to see minor bearishness
BTC/GBP is trading in a narrow range on Wednesday, as it failed to close above 10-DMA on April 18. It is currently trading at 931 levels at the time of writing (Coinfloor). Ichimoku analysis of daily chart: Tenkan Sen: 9…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/GBP is trading in a narrow range on Wednesday, as it failed to close above 10-DMA on April 18. It is currently trading at 931 levels at the time of writing (Coinfloor).
Ichimoku analysis of daily chart:
Tenkan Sen: 954
Kijun Sen: 850.50
The pair broke above 10-DMA on Tuesday but failed to hold its strength and closed below with an inverted hammer formation.
The pair has taken strong support near 925.52 (50-DMA) and any violation would see a dip till 903.67 (55-EMA)/ 878 (February 24 low).
On the upside, further bullishness could be confirmed only if the pair closes above 949.70 (10-DMA), which would then target 976 (trend line joining 1085 and 995)/ 995 (April 12 high).
Momentum studies have turned bearish: RSI is holding slightly above 50, bias lower; stochs are biased lower; and MACD line below signal line.
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The amount will be based on dividend proceeds after applicable deductions, while on-chain distributions will be reflected through the bStocks multiplier.
