Ichimoku analysis (Daily chart)
Tenken-Sen- $39933
Kijun-Sen- $44834
BTCUSD is consolidating in a narrow range after a slight recovery to $39960. The overall trend is still bearish as long resistance $47000 holds. The pair was one of the worst performers in the past two weeks and lost more than 45% after the Chinese planning to ban crypto mining. The pair is still trading below 200- day MA. A minor bullishness can happen only if it closes above $40396. The intraday trend is still on the lower side as long as resistance $43000 holds. It is currently trading around $37943.
The near-term resistance is around $40400 (200- day MA). Any indicative break above targets $43000/$44780/$47000. Short-term trend continuation above $47000.
The pair's minor support is around $35000. Any convincing break below will drag the pair down to $30000/$28392/$26948 (61.8% fib). Any close below $26900 will drag the pair down to $20000.
Indicator (Daily chart)
CAM indicator – Bullish
Directional movement index – Bearish
It is good to sell on rallies around $39800-$40000 with SL around $43000 for TP of $28500.


FxWirePro: USD/CAD slips as oil rally boosts loonie
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro: USD/ZAR extends losses ,eyes 16.400 level
FxWirePro: EUR/NZD downside pressure builds, key support level in focus
FxWirePro: USD/CAD outlook weaker on renewed downside pressure
FxWirePro: NZD/USD maintains bullish bias with focus on 0.5900
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
ETHUSD Dip: Prime Buy Zone to $3600 Targets
Pound Strike Forces EURGBP Retreat – Next Stop 0.8660?
211.55 Ceiling Holds: GBPJPY Profit-Taking Turns Bearish
FxWirePro: GBP/NZD bulls loosen their grip a bit, dips to be bought
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/AUD loses momentum but bullish setup remains
Bitcoin Stuck in No-Man’s-Land: $85K Dip or $100K Breakout Next?
NZDJPY: Bearish Signals Sell-on-Rally Opportunity Below 92 



