Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- BTCUSD Daily Outlook

Ichimoku analysis (Daily chart)

 

Tenken-Sen- $56244

 

Kijun-Sen- $55949

 

BTCUSD is consolidating in a narrow range between $59564 and $56256 for the past three days. The pair downside is capped by 50-day EMA and significant weakness only below that level.  The overall trend of Bitcoin is still bullish as long as support $47000 holds. Previously BTCUSD has recovered after a minor decline below 100-day MA.  The Bitcoin is holding above 50 and 100- day MA. It hits an intraday low of $57176 and is currently trading around $57518.

 

The near-term resistance is around $60000. Any indicative break above targets $61700/$65000. Major trend continuation above $65000.

 

The pair's minor support is around $55600 (50- day EMA). A break below will drag the pair down to $52916 (100- day MA)/$47000.  Any close below $47000 will drag the pair down to $43000. Significant bearishness only if it breaks $43000.

 

Indicator (Daily chart)

 

CAM indicator –Slightly bullish

 

Directional movement index – Neutral

 

It is good to buy on dips around $53000 with SL around $50000 for TP of $64980.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.