FxWirePro: BTC/USD breaks above 1,000, jump till 1056 likely
BTC/USD continued its uptrend on Friday and has hit a high of 1022 levels so far in the day. It is currently trading at 1010 levels at press time (Bitstamp). Ichimoku analysis of daily chart: Tenkan Sen: 948 Kijun Sen: 8…
BTC/USD continued its uptrend on Friday and has hit a high of 1022 levels so far in the day. It is currently trading at 1010 levels at press time (Bitstamp).
Ichimoku analysis of daily chart:
Tenkan Sen: 948
Kijun Sen: 881.49
Trend reversal: 838.10 (90 EMA)
On the upside, a consistent break above 1026.99 (January 06 high) would see the pair testing 1056 (78.6% retracement of 1139.89 and 751.34)/ 1100.
Momentum studies remain bullish: RSI(14) is at 67, bias higher; and MACD line is above signal line, Stochs in overbought zone.
On the downside, the pair is likely to find support near 965 (Cloud top) and a break below would drag it to 945 (trend line joining 628.99 and 745.19)/903 (21-DMA).
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