FxWirePro: BTC/USD trades flat, good to buy on dips
BTC/USD is trading in a narrow range on Tuesday, between 646 and 651 levels. It currently trades at 650 levels (Bitstamp) at press time. Ichimoku analysis (4 Hour chart): Tenkan-Sen level: 655.25 Kijun-Sen level: 659.51 …
BTC/USD is trading in a narrow range on Tuesday, between 646 and 651 levels. It currently trades at 650 levels (Bitstamp) at press time.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 655.25
Kijun-Sen level: 659.51
Trend reversal level - (90 EMA)-568
“The pair has slightly retreated after making a high of 665 on Friday. BTC/USD is facing strong support near 55 day EMA .It should close below that level for further weakness”, FxWirePro said in a statement.
Both long- and short-term trend continue to be bullish for the pair. Major resistance is around 654.74 (7 day EMA) and any break above targets 685 (Jun 25 high)/705 (Jul 2 high)/731 (161.8% retracement of 778 and 540). Short term support is seen at 610 (55 day EMA) and any violation below will drag the pair till 540 (Jun 23 low)/514 (113% retracement of 540 and 705).
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