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FxWirePro: BTC/USD faces trend line resistance at 1230, break above targets 1260

BTC/USD has broken above the trend line joining 1350 and 1229. It is currently trading at 1218 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1182.78

Kijun Sen: 1083.26

On the upside, the pair now faces resistance at 1230 (trend line joining 1220 and 1229) and a consistent break above would see it testing 1260 (March 15 high)/1298 (March 03 high).

Momentum studies appear bullish with RSI strong at 61, MACD on the verge of a bullish crossover, and stochs appear to be rolling over to overbought zone.

On the downside, support is seen at 1192 (5-DMA) and any violation would see a dip till 1173.75 (20-DMA)/1143.72 (50-DMA).

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October 24 09:00 UTC Released

EZMarkit Comp Flash PMI

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55.9 bln EUR

Forecast

56.5 bln EUR

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56.7 bln EUR

October 24 09:00 UTC Released

EZMarkit Serv Flash PMI

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54.9 bln EUR

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55.6 bln EUR

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55.8 bln EUR

October 24 12:55 UTC 214214m

USRedbook MM

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-1.4 %

October 24 12:55 UTC 214214m

USRedbook YY

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3.6 %

October 24 12:55 UTC 214214m

USRedbook MM

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-1.4 %

October 24 12:55 UTC 214214m

USRedbook YY

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3.6 %

October 24 13:00 UTC 219219m

MXFlash Trd Bal Non-EU*

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-0.7 Bln EUR

October 24 13:00 UTC 219219m

MX1st Half-Mth Infl YY*

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1.00 %

October 24 13:00 UTC 219219m

USIGAE Econ Activity MM

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-0.7 %

October 24 13:00 UTC 219219m

MXIGAE Econ Activity YY

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1.50 %

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1.00 %

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