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FxWirePro: BTC/EUR faces strong resistance at 972, break above targets 1000/1028

Tuesday, February 7, 2017 7:57 AM UTC

BTC/EUR is seen trading in a narrow range between 968.50 and 935 for the past three trading sessions (COINBASE). It is currently trading around 976.20 at the time of writing.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 911

Kijun-Sen level: 831.65

Major reversal level -800 (89- day EMA)

Long-term trend remains to be bullish. The pair is facing strong resistance at 972 and any break above will take the pair till 1000/1028 in the short term.

Major resistance is around 972 and any break above will take the pair to next level till 1000/1028 (161.8% retracement of 900 and 694.78). Short term support is seen at 937 (7 - day MA) and any break below will drag the pair till 914 (10- day MA)/880 (30-day EMA).

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Digital Currency Revolution

FxWirePro: BTC/EUR faces strong resistance at 972, break above targets 1000/1028

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