Major trend reversal Level - $750 (Jan 2017 low).
Bitcoin broken the low made on MAR 18TH 2017(944) and declined till 891 yesterday . The pair jumped till $1117 on Mar 21st 2017 after making a low of $944. It is currently trading around $950.23.
It is trading well below ichimoku cloud and this confirms minor weakness a decline till $750 likely..
On the lower side, major near term support is around $841 (200- day MA) and any daily close below that level will drag the pair till $750. Any close below $750 confirms major trend reversal and decline till $465 (Aug 2nd 2016 low ).
The near term resistance is around $994 (daily Teneken-Sen) and any break above will take the pair till $1075 (21- day EMA)/$1117 (Mar 21st high). It should break above $1350 for further bullishness.
It is good to sell on rallies around $995-$1000 with SL around $1117 for the TP of $755.
Bitcoin broken the low made on MAR 18TH 2017(944) and declined till 891 yesterday . The pair jumped till $1117 on Mar 21st 2017 after making a low of $944. It is currently trading around $950.23.
It is trading well below ichimoku cloud and this confirms minor weakness a decline till $750 likely..
On the lower side, major near term support is around $841 (200- day MA) and any daily close below that level will drag the pair till $750. Any close below $750 confirms major trend reversal and decline till $465 (Aug 2nd 2016 low ).
The near term resistance is around $994 (daily Teneken-Sen) and any break above will take the pair till $1075 (21- day EMA)/$1117 (Mar 21st high). It should break above $1350 for further bullishness.
It is good to sell on rallies around $995-$1000 with SL around $1117 for the TP of $755.