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FxWirePro: BTC/EUR struggles to close above 900 level, good to sell on rallies

BTC/EUR is trading in a narrow range on Wednesday between 900 and 840 for the past three trading session (COINBASE). It is currently trading around 874 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 944.22

Kijun-Sen level: 927.27

Major reversal level -753 (89- day EMA)

Long-term trend remains to be bullish. In the daily chart, BTC/EUR struggles to close above 900 level and any close above confirms minor bullishness.

Major resistance is around 904.50 (38.2% retracement of 1111.56 and 776) and any break above will take the pair to next level till 944 (daily Tenken-Sen)/983.50 (61.8% retracement of 1111 and 776.89)/1000. Short term support is seen at 798 (60- day EMA) and any break below will drag the pair till 753 (89- day EMA)/776 (Jan 7th 2017 low).

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