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FxWirePro: BTC/EUR trades in narrow range, good to buy the dips

Friday, July 15, 2016 7:27 AM UTC

BTC/EUR is seen trading in a narrow range on Friday. The pair is trading in a narrow range between 615 and 588 levels (CEXIO) for the past three trading session. It is currently trading at 601 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 588.80

Kijun-Sen level: 591.67

Trend reversal level - (90 4H EMA)-517.70

Long-term trend remains to be bullish. BTC/EUR faces strong resistance at 615. So a slight jump till 635 can be seen only above that level.

Major resistance is around 615(Jul 12th high) and any break above will take the pair to next immediate resistance at 635 (24th Jun high)/656 (127.2% retracement of 635 and 562). Short term support is seen at 554 (55 days EMA) and any violation below will drag the pair till 503 (55 days EMA).

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Digital Currency Revolution

FxWirePro: BTC/EUR trades in narrow range, good to buy the dips

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