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FxWirePro: BTC/EUR finds stiff resistance at 21-EMA, further upside only on break above

  • BTC/EUR is consolidating break below daily cloud, bias remains bearish.
     
  • The pair is trading 2.59% higher on the day, but lacks momentum to extend gains.
     
  • Upside finds stiff resistance at 21-EMA at 5762, we see further gains only on break above.
     
  • On the downside, we see immediate support at minor trendline at 5206. Break below 5400 mark targets trendline at 5206.
     
  • Violation at minor trendline at 5206 could see weakness till 4900 (June 24 low).

Support levels - 5206 (trendline), 5000, 4900 (June 24 low)

Resistance levels - 5620 (5-DMA), 5762 (21-EMA), 5800

FxWirePro Currency Strength Index: FxWirePro's Hourly BTC Spot Index was at 110.21 (Bullish), while Hourly EUR Spot Index was at 68.8508 (Neutral) at 0745 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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