FxWirePro
Short

BTC/EUR breaks daily cloud, eyes 100-DMA at 8933, short rallies

BITSTAMP:BTCEUR   Bitcoin / Euro
BTC/EUR has shown a decisive break below daily Ichimoku cloud , bias lower.
Momentum studies are bearish , Stoch are sharply lower. But are approaching oversold levels so caution advised.
RSI weak below 50 levels and biased lower with room for further downside.
We see -ve DMI dominance, ADX is rising which supports current downtrend.
We see scope for test of 100-DMA             at 8934 levels. Violation there could see further weakness.
On the flipside, breakout at 20-DMA             at 11989 invalidates bearish bias.

Support levels - 8929 ( 100-DMA             ), 7244 (78.6% Fib retrace of 4736 to 164557 rally), 5979 ( 200-DMA             )
Resistance levels - 11020 (5-DMA), 12000 ( 20-DMA             ), 13670 (Dec 27 high)

Good to go short on rallies around 10200/10500, SL: 11200, TP: 9200/ 8900/ 7250

Comment: TP1/2 hit.
Thanks @FxWirePro . Do you think is gonna touch the 7k?
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