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FxWirePro: BTC/EUR trades higher, break above 1745 targets 1835

BTC/EUR has broken the minor resistance of 1683 and jumped till 1732 (COINBASE). The pair has formed a minor bottom around 1476 on May 13th 2017 and any minor weakness can be seen only below that level. It is currently trading at 1726.61 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1609

Kijun-Sen level: 1445

Major reversal level -1511 (21- EMA)

Long-term trend remains to be bullish. BTC/EUR faces strong resistance at 1745 all-time high formed at May 11th 2017 and further bullishness can be seen only above that level.

Major resistance is around 1750 and any break above will take the pair to next level till 1835 (161.8% retracement of 1742 and 1591)/1943 (261.8% projection of 826 to 1160 from 1069). Short term support is seen at 1525 (23.6% retracement of 1742 and 826) and any break below will drag the pair down till 1492 (21 day EMA)/1444 (daily Kijun-Sen)/1343 (May 4th 2017).

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