BTC/USD is trading in a narrow range on Friday between 630 and 635 levels. It is currently trading at 634 levels (Bitstamp).
Long-term trend: Bullish
Short-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 622.88
Kijun Sen: 616.05
Trend reversal: 601.82 (90 EMA)
“The pair is showing a small dip after hitting 640 levels, however, it is holding its ground above the 630.00 mark. Bullishness in the pair could be confirmed only above 640 levels”, FxWirePro said in a statement.
On the upside, the pair must break above 640 levels for further upward trend. Any violation target 651.79 (161.8% retracement of 628.99 and 592.10)/ 704.99 (July 03 high)
On the downside, the pair has taken support at 630 levels and a break below would see the pair falling to 619 (10-DMA)/601.82 (90 EMA).
