Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: BTC/USD faces strong trend line resistance at 1200, break above to see further upside

BTC/USD failed to close above trend line resistance on Tuesday. It is currently trading at 1190 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1185

Kijun Sen: 1060.16

The pair is facing strong resistance at 1200 (trend line joining 1350 and 1229) and only a close above will see further upside in the pair, targeting 1229 (April 11 high)/1260 (March 15 high).

In the daily chart, the pair is successfully holding above 5-DMA and momentum studies suggest scope for further bullish bias.

In the 4-hour chart, 1189.54 (4h 50-SMA) is acting as a major support and a break below would target 1165.94 (20-DMA)/1121 (55-EMA).

  • ET PRO
  • Market Data

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

August 16 12:30 UTC Released

USHousing Starts Number MM

Actual

1.155 mln

Forecast

1.220 mln

Previous

1.215 mln

August 16 12:30 UTC Released

USBuild Permits: Change MM

Actual

-4.1 %

Forecast

Previous

9.2 %

August 16 15:30 UTC 131131m

BRForeign Exchange Flows*

Actual

Forecast

Previous

0.361 Bln USD

August 16 23:50 UTC 631631m

JPForeign Bond Investment

Actual

Forecast

Previous

1624.2 bln JPY

August 16 23:50 UTC 631631m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-37.7 bln JPY

August 16 23:50 UTC 631631m

JPExports YY*

Actual

Forecast

13.6 %

Previous

9.7 %

August 16 23:50 UTC 631631m

JPImports YY*

Actual

Forecast

17.0 %

Previous

15.5 %

August 16 23:50 UTC 631631m

JPTrade Balance Total Yen*

Actual

Forecast

392.0 bln JPY

Previous

439.9 bln JPY

August 17 01:30 UTC 731731m

AUFull Time Employment*

Actual

Forecast

Previous

62.0 k

August 17 01:30 UTC 731731m

AUEmployment*

Actual

Forecast

20.0 k

Previous

14.0 k

Close

Welcome to EconoTimes

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