Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: BTC/USD breaches cloud support, dip till 8000 likely

BTC/USD is trading tad lower on Tuesday as it couldn’t hold cloud support. It is currently trading at 8323 levels at the time of writing (Bitstamp).

On the top side, resistance is seen at 8452 (Cloud bottom) and a break above would target 8699 (55-EMA)/8861 (100-DMA). Further strength would target 9000/9464 (trend line joining 11688 and 9948.98).

On the downside, the pair is likely to find support at 8060 (trend line joining 6427.16 and 7929.53) and any violation would drag it to 7639 (1w 50-SMA)/ 7325 (March 18 low)/ 7000.

Momentum studies: Bias appears bearish on the daily chart with the pair breaking below cloud, MACD line below the signal line, and RSI below 50.

Call Update: We recommended staying short in our previous call. The call still holds.

Recommendation: Hold for targets. SL: 8800. TP: 8000/7700.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

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

August 17 14:30 UTC Released

USECRI Weekly Annualized

Actual

0.3 %

Forecast

Previous

0.6 %

August 17 14:30 UTC Released

USECRI Weekly Index

Actual

147.4 %

Forecast

Previous

147.8 %

January 31 00:00 UTC 288666288666m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 288666288666m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 300486300486m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 288666288666m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 300486300486m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 288666288666m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 288666288666m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 288666288666m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

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