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BTC/EUR faces strong support at 21- day MA, break below targets 673

Tuesday, December 6, 2016 7:20 AM UTC

BTC/EUR is seen trading below on Tuesday. The pair declined slightly after jumping till 725 levels (COINBASE). It is currently trading around 702.58 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 708

Kijun-Sen level: 681.98

Trend reversal level - (100 day MA) – 601

Long-term trend remains to be bullish. In the daily chart, BTC/EUR faces strong support at 21- day MA and any close below confirms further weakness.

Major resistance is around 729 (Dec 2nd high) and any violation above will take the pair till 740 (161.8% retracement of 714.95 and 673)/789 (127.2% retracement of 715 and 673). Short-term support is seen at 700 (21- day MA) and any break below targets 681 (daily Kijun-Sen)/ 673 (Nov 20th, 2016 low)/634 (Nov 13th low).

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Digital Currency Revolution

BTC/EUR faces strong support at 21- day MA, break below targets 673

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