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FxWirePro: BTC/EUR downside capped by ichimoku cloud, good to buy on dips

BTC/EUR has shown a massive sell off on Mar 18th, 2017 and declined to 864 levels (COINBASE). The pair jumped slightly till 1013 and is currently trading in 1009.67 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1026

Kijun-Sen level: 1107

Major reversal level -778 (200- day MA)

Long-term trend remains to be bullish. BTC/EUR declined slightly below the cloud and recovered from that level. It should close above ichimoku cloud for further weakness. It is currently trading around 1010.  

Minor resistance is around 1029 (55- day EMA) and any break above will take the pair to next level till 1070 (21- day EMA)/ 1188 (Mar 14th, 2017 high)/1236 (Mar 2nd high). Short term support is seen at 970 (89 days EMA) and any break below will drag the pair till 920 (Mar 10th 2017).

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