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FxWirePro: BTC/EUR upside capped by 55 day EMA, good to sell on rallies

Friday, July 14, 2017 9:52 AM UTC

BTC/EUR has shown a minor jump till 2148 after hitting a low of 1987 on Jul 12th (CEXIO). It is currently trading around 2093 at press time.

Ichimoku analysis of daily chart indicates:

Tenkan-Sen level: 2155

Kijun-Sen level: 2264

Major reversal level -2715 (Jun 12th 2017 high)

Long-term trend remains to be bullish. BTC/EUR faces strong resistance at 2149 (55- day EMA) and any minor bullishness only above that level.

Major resistance is around 2149 (55- day EMA) and any break above will take the pair to next level till 2200/2264 (daily Kijun-Sen). Short term support is seen at 1965 (89- day EMA) and any break below will drag the pair down till 1770/1502.

It is good to sell on rallies around 2150 with SL around 2325 for the TP of 1770/1505.

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Digital Currency Revolution

FxWirePro: BTC/EUR upside capped by 55 day EMA, good to sell on rallies

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