- BTC/EUR consolidates slump below daily Ichimoku cloud, bias lower.
- Price action currently hovers around 100-DMA support at 8981, break below to see further weakness.
- Momentum studies are bearish, Stoch are sharply lower. But are approaching oversold levels so caution advised.
- RSI weak below 50 levels and biased lower with room for further downside.
- We see -ve DMI dominance, ADX is rising which supports current downtrend.
- Violation at 100-DMA to see test of next major support at 78.6% Fib at 7244.
- On the flipside, breakout at 20-DMA at 11989 invalidates bearish bias.
Support levels - 8981 (100-DMA), 7244 (78.6% Fib retrace of 4736 to 164557 rally), 6015 (200-DMA)
Resistance levels - 10550 (5-DMA), 10596 (cloud base), 11835 (20-DMA), 13670 (Dec 27 high)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-BTC-EUR-breaks-below-daily-cloud-eyes-100-DMA-at-8933-good-to-short-rallies-1098224) has hit TP1/2.
Recommendation: Bias lower, watch out for break below 100-DMA for further weakness. Target 7250/ 7000/ 6700.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


Bitcoin Bulls Hold Key EMAs Above $64,000—Is a Rally Toward $70,000 Next?
FxWirePro: USD/ZAR extends decline, scope for further downside
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/CAD eases slightly but trend is still bullish
EUR/USD Eyes 1.1660 Breakout: Buying Dips Near 1.1530 as Geopolitical Tensions Ease
FxWirePro: NZD/USD softens despite firm expectations for RBNZ tightening
Crypto Action Bias: BNB/USD Leads Bullish Momentum as Major Pairs Neutralize
EURUSD Bulls Charge Higher: Buy Dips at 1.1528 as EMA Alignment Eyes Break Above 1.1560
FxWirePro- Major Pair levels and bias summary
AUDJPY Bears Hold the Line: Sell Rallies at 111.40 as Negative Bias Targets Sharp Drop to 108
FxWirePro: AUD/USD eases slightly as markets await U.S. Payrolls report
FxWirePro: USD/CNY edges lower, scope for further downside 



