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  |   Technicals


FxWirePro- BTCUSD Daily Outlook

Ichimoku analysis (Daily chart)


Tenken-Sen- $36882


Kijun-Sen- $36183


BTCUSD has once again declined after a minor pullback above $40000.The overall trend is still bearish as long as resistance $47000 holds.  The pair was one of the worst performers in the past month and lost more than 50% of its all-time high of $64985 due to negative news from China on crypto mining. It hits an intraday low of $37016 and is currently trading around $37154.


The near-term resistance is around $39553. Any indicative break above targets $41000/$42500/$43339/$45870/$47000. Short-term trend continuation above $47000.


The pair's minor support is around $36000. Any convincing break below will drag the pair down to $34800/$32550/$30000.  Any close below $30000 will drag the pair down to $26800/$20000.


Indicator (Daily chart)


CAM Indicator – Slightly bullish


Directional movement index – Neutral 


It is good to sell on rallies around $39000 with SL around $42500 for TP of $30000.

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