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FxWirePro: BTC/USD surges to fresh all-time high at 19666, bias bullish, stay long

BTC/USD traded higher over the weekend to hit a fresh all-time high at 19666 levels. It is currently trading at 18955 levels at press time.

Ichimoku analysis of daily chart:

Tenkan Sen: 16338.50

Kijun Sen: 13771

On the topside, a decisive break above 19000 would see the pair testing 19117 (161.8% retracement of 16666.66 and 12701.05)/19666 (December 17 high). Further strength would target 19817 (200% extension of 2972.01 and 11395)/20000/20391 (127.2% extension of 2972.01 and 16666.66)/20632.

On the reverse side, support is seen at 18191 (5-DMA) and a break below would drag the pair to 17878 (1h 100-SMA)/ 17243 (2h 90-EMA). Further weakness would see it testing 16961 (10-DMA)/15557 (4h 90-EMA)/14582 (20-DMA).

Momentum studies: Overall bias remains bullish with no major sign of reversal – MACD line is above the signal line and major moving averages are biased higher. The long lower wick of the candle today suggests stronger bullish bias.

However, bearish RSI divergence and stochs in overbought zone call for high caution.

Call Update: We recommended going long in our previous call. All the targets have been hit.

Recommendation: Book partial profits, stay long. Trail stop to 16900. TP: 20000

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

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January 19 15:30 UTC Released

USECRI Weekly Annualized

Actual

4.5 %

Forecast

Previous

3.3 %

January 19 15:30 UTC Released

USECRI Weekly Index

Actual

150.3 %

Forecast

Previous

147.6 %

January 21 02:00 UTC 10151015m

PHGDP YY

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Forecast

Previous

6.9 0

January 21 02:00 UTC 10151015m

PHGDP QQ

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Forecast

Previous

1.3 0

January 21 21:00 UTC 21552155m

KRPPI Growth YY

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Forecast

Previous

3.1 %

January 21 21:00 UTC 21552155m

KRPPI Growth

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Forecast

Previous

-0.1 %

January 21 23:00 UTC 22752275m

JPReuters Tankan DI

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Forecast

Previous

27 k

January 22 07:00 UTC 27552755m

NOIndus Confidence

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Forecast

Previous

2 0

January 22 08:00 UTC 28152815m

TWJobless Rate

Actual

Forecast

Previous

3.69 0

January 22 08:00 UTC 28152815m

TWExport Orders YY

Actual

Forecast

Previous

11.6 0

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