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FxWirePro: BTC/EUR trades well below ichimoku cloud, decline till 788 likely

BTC/EUR breaks major support at 864 (Mar 18th, 2017 low) and declined till 826.60 (COINBASE). The pair hit 925 yesterday from the low and it is currently trading around 906 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 932

Kijun-Sen level: 1088

Major reversal level -780 (200- day MA)

The long-term trend remains to be bullish. BTC/EUR trades below ichimoku cloud and a decline till 788 likely.

Minor resistance is around 932 (daily Tenken-Sen) and any break above will take the pair to next level till / 1047 (21- day EMA). Short term support is seen at 790 (200- day MA) and any break below will drag the pair till 694 (Jan 12th, 2017 low).

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