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FxWirePro: BTC/USD upside capped by 21-DMA, break above targets 945

BTC/USD upside continues to be limited by 21-DMA. It is currently trading at 893 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 834.87

Kijun Sen: 945.61

Trend reversal: 804.93 (90 EMA)

On the upside, the pair is facing strong resistance at 913.36 (converged channel top and 21-DMA) and only a break above would confirm further bullishness in the pair. A consistent break above would target 945 (50% retracement of 1139.89 and 751.34)/991.

On the downside, the pair has taken support near 869.67 (5-DMA) and a break below would see it falling to 847.22 (55-EMA)/804.93 (90-EMA).

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