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FxWirePro: BTC/EUR finds stiff resistance at 21-EMA, further upside only on break above

Support levels - 5206 (trendline), 5000, 4900 (June 24 low) Resistance levels - 5620 (5-DMA), 5762 (21-EMA), 5800

By Shampa Mani
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  • BTC/EUR is consolidating break below daily cloud, bias remains bearish.

  • The pair is trading 2.59% higher on the day, but lacks momentum to extend gains.

  • Upside finds stiff resistance at 21-EMA at 5762, we see further gains only on break above.

  • On the downside, we see immediate support at minor trendline at 5206. Break below 5400 mark targets trendline at 5206.

  • Violation at minor trendline at 5206 could see weakness till 4900 (June 24 low).

Support levels - 5206 (trendline), 5000, 4900 (June 24 low)

Resistance levels - 5620 (5-DMA), 5762 (21-EMA), 5800

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