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FxWirePro: BTC/GBP faces strong resistance at 21-DMA, break below 725 targets 670

BTC/GBP broke below the 700 mark on December 07 and hit 672.99 levels. It is currently trading at 737 at the time of writing (Coinbase).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 811.49

Kijun Sen: 782

Trend reversal: 641 (90 EMA)

On the upside, major resistance is seen at the 762 (21-DMA) and a break above would see the pair testing 791 (5-DMA)/800.

Momentum studies suggest further bearish trend: the MACD line is below the signal line, bearish crossovers of 5 and 21-DMA.

On the flip side, the pair is likely to find support near 725 (trend line joining 467.77 and 611.12) and a break below would target 686.58 (55-EMA)/ 672.99 (December 07 low).

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February 17 15:00 UTC Released

USLeading Index Chg MM*

Actual

0.6 %

Forecast

0.5 %

Previous

0.5 %

February 17 13:30 UTC Released

CASecurities Foreign C$ MM

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10.23 bln C$

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7.24 bln C$

February 19 21:00 UTC 410410m

KRPPI Growth*

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0.8 %

February 19 21:00 UTC 410410m

KRPPI Growth YY*

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1.8 %

February 19 23:50 UTC 580580m

JPExports YY*

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4.7 %

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5.4 %

February 19 23:50 UTC 580580m

JPImports YY*

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4.7 %

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-2.6 %

February 19 23:50 UTC 580580m

JPTrade Balance Total Yen*

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-636.8 bln JPY

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641.4 bln JPY

February 20 07:00 UTC 10101010m

TRProducer Prices YY

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66.90 %

February 20 07:00 UTC 10101010m

TRProducer Prices YY

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1.9 %

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1.0 %

February 20 07:00 UTC 10101010m

DEProducer Prices MM

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0.3 %

Previous

0.4 %

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