FxWirePro: BTC/USD faces strong trend line resistance at 925, break above targets 945
BTC/USD is struggling for a consistent break above the trend line resistance and is currently trading at 922 levels (Bitstamp). Ichimoku analysis of daily chart: Tenkan Sen: 872.87 Kijun Sen: 945.61 Trend reversal: 811.9…
BTC/USD is struggling for a consistent break above the trend line resistance and is currently trading at 922 levels (Bitstamp).
Ichimoku analysis of daily chart:
Tenkan Sen: 872.87
Kijun Sen: 945.61
Trend reversal: 811.97 (90 EMA)
Back-to-back dogi formations suggest indecisiveness in the market, however, bias is higher – bullish crossover of 7-DMA and 21-DMA, RSI (14) is at 55.
The pair is facing strong resistance at 925 levels (trend line joining 628.99 and 745.19) and a break above would target 945 (50% retracement of 1139.89 and 751.34)/991.
On the downside, the pair has taken support near 895.43 (7-DMA) and any violation would drag it to 860 (trend line joining 628.57 and 683.23)/ 811.97 (90 EMA).
The penalty had already been paid, and the CFTC joined the request after a review led the agency to say it would not have brought the case under its current standards.
Bitcoin (BTC) output at Duff fell 23% to 25.63 BTC, while the company cited Memphis hosting and electricity costs as a main factor in higher direct expenses.
