FxWirePro: BTC/EUR breaks above 6000 mark, momentum with the bulls, stay long on dips

• BTC/EUR has shown a break above 6000 mark as the pair extends gains for 5th straight session.
   
• Price action has broken out of slopping channel pattern raising scope for bullish reversal.
   
• The pair has edged into daily cloud and has broken above 110-EMA.
   
• Technical indicators support further upside in the pair. Momentum with the bulls.
   
• Break above daily cloud eyes 61.8% Fib at 7001. While we see weakness only below 5-DMA at 5846.

Support levels - 6343 (110-EMA), 6000, 5844 (5-DMA)

Resistance levels - 6600 (50% Fib), 7001 (61.8% Fib), 7364 (200-DMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-BTC-EUR-breaks-above-21-EMA-good-to-go-long-on-dips-1403833) has hit all targets.

Recommendation: Good to go long on dips around 6100/6200, SL: 5840, TP: 6600/ 7000.

FxWirePro Currency Strength Index: FxWirePro's Hourly BTC Spot Index was at 147.694 (Bullish), while Hourly EUR Spot Index was at 4.0807 (Neutral) at 0620 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.