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FxWirePro: BTC/EUR faces strong resistance at 1160, break above targets 1235

BTC/EUR is seen trading slight;y below on Wednesday and the pair has shown a mild recovery till 1137 after forming a minor bottom at 1069 on Apr 15th 2017 (COINBASE). It is currently trading around 1121.59 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 1115

Kijun-Sen level: 993

Major reversal level -852 (200- day MA)

Long-term trend remains to be bullish. BTC/EUR faces strong resistance at 1160 (Apr 11th 2017 high) and any break above confirms minor bullishness.

Major resistance is around 1161 (Apr 11th 2017 high) and any break above will take the pair to next level till 1188 (Mar 14th high)/1235 (Mar 3rd 2017 high)/1290 (88.6% retracement of 1350 and 826). Short term support is seen at 1094 (21 day EMA) and any break below will drag the pair down till 1066 (Ichimoku cloud) /993 (daily Kijun-Sen).

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