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BTC/EUR finds strong support at 20-dma at 7930, weakness only on break below

BTC/EUR finds strong support at 20-dma at 7930, weakness only on break below

  • BTC/EUR is extending bounce off 20-DMA which is strong support (currently at 7930).
  • Technical indicators are biased higher. We see weakness only on break below 20-DMA.
  • RSI strength seen at 54 levels with scope for further upside. Stochs are also biased higher.
  • 5-DMA at 8214 is immediate support, while daily cloud base at 9291 is immediate resistance.
  • Break into daily cloud could see upside till 100-DMA at 10070. Further upside only on break above.
  • Breach at 20-DMA support could see weakness till 4712 (Feb 6 lows)

 

Source: FXWire Technicals

 

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