FxWirePro: BTC/EUR breaks above 200-DMA at 6683, good to go long on dips

• BTC/EUR retraces back above 200-DMA at 6683 levels, bias higher.
   
• The pair is trading 12.50% higher on the day at around 6933 levels at the time of writing.
   
• Price has broken above strong trendline resistance at 6740 on the 1H charts.
   
• Technical studies are turning bullish, RSI and Stochs are showing a rollover from oversold levels.
   
• MACD is on verge of bullish crossover, which if completed will add to the bullish bias.
   
• On the flipside, failure at 200-DMA will invalidate bullish bias. Scope for test of 5500 levels.

Support levels - 6683 (200-DMA), 6284 (5-DMA), 5488 (78.6 % Fib retrace of 2502 to 16457 rally)

Resistance levels - 7150 (50% Fib retrace of 9589 to 4712 fall), 7500 (Feb 4 high), 7725 (61.8% Fib retrace of 9589 to 4712 fall)

Recommendation: Good to go long on dips around 6800/ 7000, SL: 6700, TP: 7150/ 7500/ 7725.

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