Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

BTC/EUR faces strong support at 21-WEMA, close below targets 694

Bitcoin rose almost 50% in this year 2017 from the low of $694. The pair jumped till $1350 on Mar 10th 2017 and shown a steep fall after SEC rejects Bitcoin ETF. BTC/EUR breaks major support at 920 low formed after BTC ETF rejection and declined till 864 from that level (COINBASE). BTC/EUR slightly recovered till 995 after the huge sell-off. It has shown minor decline below 21- W EMA and any close below that level will confirm further weakness.

Ichimoku analysis of weekly chart shows:

Tenkan-Sen level: 1064

Kijun-Sen level: 938

Major reversal level -694 (Jan 2017 low)

RSI (Weekly chart) - Bearish Divergence

Long-term trend remains to be bullish. On the lower side, major near-term support is around $812 (61.8% retracement of 694 and 1350) and any close below that level will drag the pair till $694 (Jan 2017 low).

In the weekly chart, BTC/EUR has formed bearish divergence, a decline till $694 likely. Short term bullish invalidation only below $694. Any close below $694 will drag the pair till $434 (Aug 2016 low). On the higher side, near term resistance is around $1350 and any break above confirms bullish continuation, a jump till $1500/$1650 (161.8% retracement of $1350 and $864) is possible.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

May 21 02:30 UTC Released

THGDP Growth QQ SA

Actual

2 %

Forecast

1.05 %

Previous

0.5 %

May 21 02:30 UTC Released

THGDP Growth YY

Actual

4.8 %

Forecast

4 %

Previous

4 %

January 31 00:00 UTC 158685158685m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 158685158685m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 170505170505m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 158685158685m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 170505170505m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 158685158685m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 158685158685m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 158685158685m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.