Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: BTC/GBP hovers around 90-EMA, caution advised as bitcoin scalability debate takes centre stage

BTC/GBP plunged to 761 levels on March 18 and has currently hovering around 90-EMA at 830 levels (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 899.50

Kijun Sen: 923

Overall trend appears bearish for the pair: RSI(14) is at 38, bias lower; and the MACD line is below the signal line. The stochs are now in the oversold zone.

On the upside, immediate resistance is seen at 831.63 (90-EMA) and a break above would see it testing 886 (5-DMA)/900.

On the flipside, the pair is likely to find support near 805.51 (100-DMA) and a break below would drag it to 761 (March 18 low)/716.37 (78.6% retracement of 616 and 1085).

Traders are advised to maintain caution as bitcoin scalability issue takes centre stage with a group of nearly 20 exchanges has released contingency plans in the event that the bitcoin network splits in two, creating two competing currencies.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

October 20 18:00 UTC Released

USFederal Budget,$

Actual

8 Bln USD

Forecast

6.00 Bln USD

Previous

-108 Bln USD

October 20 14:30 UTC Released

USECRI Weekly Index*

Actual

146.6 %

Forecast

Previous

145.2 %

October 22 21:00 UTC 14081408m

KRPPI Growth*

Actual

Forecast

Previous

October 22 21:00 UTC 14081408m

KRPPI Growth YY*

Actual

Forecast

Previous

October 22 21:00 UTC 14081408m

CAPPI Growth YY*

Actual

Forecast

Previous

3.2 %

October 22 21:00 UTC 14081408m

KRPPI Growth YY*

Actual

Forecast

Previous

3.2 %

October 22 21:00 UTC 14081408m

KRPPI Growth*

Actual

Forecast

Previous

0.3 %

October 23 01:30 UTC 16781678m

EZConsumer Confid. Flash

Actual

Forecast

Previous

8.3 %

October 23 01:30 UTC 16781678m

CNChina House Prices YY*

Actual

Forecast

Previous

8.3 %

October 23 07:00 UTC 20082008m

BRConsumer Confidence*

Actual

Forecast

Previous

68.70 Bln BRL

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.