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FxWirePro: BTC/USD climbs back above 15000, decisive break above 20-DMA to see further upside

BTC/USD broke above 10-DMA on Tuesday and hit 15257 levels before closing at 13443 levels. The pair is holding well above 10-DMA today and is trading at 15118 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 14265.26

Kijun Sen: 15412.96

On the topside, the pair will now run into resistance at 15536 (20-DMA) and a decisive break above would target 16000/16416 (61.8% retracement of 19666 and 11159.93). Further strength would target 16666 (December 08 high)/17000/17428 (December 12 high)/17845/18000.

On the reverse side, support is likely to be found at 14801 (4h 200-SMA) and a break below would see it testing 14363 (10-DMA)/14000. Further weakness would drag it to 13573 (2h 50-SMA)/13288 (38.2% retracement of 2972.01 and 19666)/12894(50-DMA).

Momentum studies: On the daily chart, RSI is at 53 with higher bias, while MACD line is below the signal line. Stochs are also biased higher. Intraday bias appears bullish.

Watch out for a decisive break above 20-DMA for further upside.

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