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Digital Currency Revolution

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BTC/EUR trades slightly above 61.8% fibo, jump till 700 likely

Wednesday, November 9, 2016 6:32 AM UTC

BTC/EUR is seen trading upwards on Wednesday. The pair breaks minor resistance around 649 and jumped till 666 levels (COINBASE). It is currently trading around 660 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 642.50

Kijun-Sen level: 621.37

Trend reversal level - (100 day MA) – 556.78

Long-term trend remains to be bullish. In the daily chart, BTC/EUR trades slightly above 61.8% retracement and jump till 673/683.

Major resistance is around 673 (161.8% retracement of 625 and 655) and any violation above will take the pair till 683.11 (88.6% retracement of 715 and 434.58)/700. Short-term support is seen at 642 (daily Tenken-Sen) and any break below targets 624.45 (21- day MA)/610.

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Digital Currency Revolution

BTC/EUR trades slightly above 61.8% fibo, jump till 700 likely

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