BTC/EUR upside gaining traction?
BTC/EUR has broken above major EMAs and momentum studies are bullish.
We now see scope for test of cloud base at 10000 levels.
Technical studies on daily charts are turning slightly bullish. We now see +ve DMI crossover.
The pair has broken above 38.2% Fib retracement at 9198. Next major resistance lies at 100-DMA at 9938.
Break into daily cloud could see further upside.
While on the downside, we see bullish invalidation on break below 20-DMA at 7294.
Support levels - 8778 (5-DMA), 8000, 7483 (23.6% Fib)
Resistance levels - 9589 (Jan 28 high), 9938 (100-DMA), 10000 (cloud base)
Good to go long on dips, SL: 8000, TP: 9500/ 9900/ 10000
We now see scope for test of cloud base at 10000 levels.
Technical studies on daily charts are turning slightly bullish. We now see +ve DMI crossover.
The pair has broken above 38.2% Fib retracement at 9198. Next major resistance lies at 100-DMA at 9938.
Break into daily cloud could see further upside.
While on the downside, we see bullish invalidation on break below 20-DMA at 7294.
Support levels - 8778 (5-DMA), 8000, 7483 (23.6% Fib)
Resistance levels - 9589 (Jan 28 high), 9938 (100-DMA), 10000 (cloud base)
Good to go long on dips, SL: 8000, TP: 9500/ 9900/ 10000
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