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FxWirePro: BTC/EUR trades slightly below 55- day EMA, decline till 920 likely

BTC/EUR broken major support at 1093 and declined till 1042 yesterday (COINBASE). The pair has closed around 1096. The pair is currently trading around 1035 at press time.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 1135

Kijun-Sen level: 1135

Major reversal level -969 (89- day EMA)

Long-term trend remains to be bullish. It has continued its losing streak today morning and breaks the 55- day EMA at 1042. Any break below 55- day EMA confirms minor weakness, a decline till 920 (SEC BTC ETF rejection) likely.  

Minor resistance is around 1100 and any break above will take the pair to next level till 1132 (10- day MA) 1188 (Mar 14th, 2017 high)/1236 (Mar 2nd high). Short term support is seen at 972 (89 days EMA) and any break below will drag the pair till 920 (Mar 10t h2017).

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