FxWirePro: BTC/USD breaks above 800, good to buy on dips
BTC/USD has finally broken above the major trend line resistance and hit a high of 806.78 levels so far in the day (Bitstamp). Long-term trend: Bullish Short-term trend: Bullish Ichimoku analysis of daily chart: Tenkan S…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/USD has finally broken above the major trend line resistance and hit a high of 806.78 levels so far in the day (Bitstamp).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 784
Kijun Sen: 762
Trend reversal: 708.51 (90 EMA)
Continued upward momentum would now see the pair testing 819 (113% retracement of 778.85 and 465.28) and a break above would target 864/900.
On the reverse side, the pair is likely to find support at 783.37 (10-EMA) and a break below would drag it to 770.97 (21-day MA)/743 (December 05 low).
The exchange reported on-chain freezes covering about $3 billion in related assets and said its review found no signs that wallet private keys were exposed.
The temporary halt was intended to prevent stolen funds from moving after an attack involving Binance. USDT0 reported no disruption to its infrastructure.
