Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 288.89
Kijun-Sen level: 299.39
Ichimoku cloud top: 315.87
Ichimoku cloud bottom: 310
BTC/EUR made a low of 276.79 and has recovered till 284.44 from that level. Overall trend is weak as long as resistance 287.51 (200 day 4HMA) holds. The pair break above 287.51 would extend gain to 294.18 (200 day EMA)/299.43 (50% retracement of 322 to 276.55) in short term.
The major support is around 275 and any break below will take the pair to 270/264.
Recommendation: Sell BTC/EUR around 284, SL 288, Target 275.20.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 288.89
Kijun-Sen level: 299.39
Ichimoku cloud top: 315.87
Ichimoku cloud bottom: 310
BTC/EUR made a low of 276.79 and has recovered till 284.44 from that level. Overall trend is weak as long as resistance 287.51 (200 day 4HMA) holds. The pair break above 287.51 would extend gain to 294.18 (200 day EMA)/299.43 (50% retracement of 322 to 276.55) in short term.
The major support is around 275 and any break below will take the pair to 270/264.
Recommendation: Sell BTC/EUR around 284, SL 288, Target 275.20.