BTC/USD broke below 90-EMA on Wednesday and fell to 988 levels. It has formed a doji candle today and is currently trading at 1034 levels at the time of writing (Bitstamp). Ichimoku analysis of daily chart: Tenkan Sen: 1…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
BTC/USD broke below 90-EMA on Wednesday and fell to 988 levels. It has formed a doji candle today and is currently trading at 1034 levels at the time of writing (Bitstamp).
Ichimoku analysis of daily chart:
Tenkan Sen: 1102.18
Kijun Sen: 1147.18
The pair is currently trading a little over 90-EMA and faces resistance at 1059.84 (7-DMA). A consistent break above would see it testing 1099.31 (38.2% retracement of 1350 and 944.36)/1113.13 (10-DMA).
Momentum studies suggest bearish bias for the pair: RSI(14) is weak at 42; and MACD line is below signal line.
Cloud bottom is acting as a major support for the pair and a close below 1029.45 (90-EMA) would target 985.67 (Cloud bottom). Further weakness could see a dip till 944.36 (March 18 low)/ 913.73 (February 09 low).
ENA was down 1.71% over 24 hours. A reported tally across three exchanges showed $10,000 in short liquidations and none in long positions, with no data provider named.
