FxWirePro: BTC/EUR takes support near 23.6% fibo, good to buy on dips
BTC/EUR is seen trading slightly above on Friday. The pair has recovered slightly from the low of 573.0 levels (COINBASE). It is currently trading around 581.77 at the time of writing. Ichimoku analysis of daily chart sh…
BTC/EUR is seen trading slightly above on Friday. The pair has recovered slightly from the low of 573.0 levels (COINBASE). It is currently trading around 581.77 at the time of writing.
Ichimoku analysis of daily chart shows:
Tenkan-Sen level: 577.95
Kijun-Sen level: 560.78
Trend reversal level - (100 days MA) – 551.69
Long-term trend remains to be bullish. BTC/EUR downside is capped by 23.6% fibo, and any break confirms minor weakness.
Major resistance is around 588 (Oct 15th high) and any violation above will take the pair till 607 (61.8% retracement of 698 and 434.78)/623 (Jul 17th high). Short-term support is seen at 577.95 (daily Tenkan-Sen) and any break below targets 568 (23.6% retracement of 507.09 and 588)/565 (21- day MA/555.58 (55- day EMA).
