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  |   Technicals


FxWirePro- BTCUSD Daily Outlook


Ichimoku analysis (Daily chart)


Tenken-Sen- $54066


Kijun-Sen- $54800


BTCUSD plunged more than 15% after Elon Musk Tweet. He tweeted that Tesla had stopped accepting Bitcoin payments because of environmental concerns. The pair declined to $45700 and shown a minor recovery. The pair has formed lower highs and lower lows. This confirms further bearishness. A dip to $43000 is possible.  The intraday bullishness can happen only if it breaks $54000. It hits an intraday low of $45700 and is currently trading around $49925.


The near-term resistance is around $53625. Any indicative break above targets $55000/$56650/$60000. Major trend continuation above $65000.


The pair's minor support is around $47000. Any convincing break below will drag the pair down to $43000/$40000/$38650 (200- day MA).  Any close below $47000 will drag the pair down to $43000. Significant bearishness only if it breaks $43000.


Indicator (Daily chart)


CAM indicator – Bearish


Directional movement index – Bearish


It is good to sell on rallies around $50900-$51000 with SL around $55000 for TP of $43000.

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