We witnessed the failure swings at this stiff resistance followed by resembling candle at 5353.90 levels.
Both leading oscillators ( & curves) on this timeframe, show constant downward convergence which is the signal of intensified momentum.
While 7SMA has crossed below 21SMA which is a crossover that signals prevailing price dips likely to extend further. Same has been the case on that shows crossover.
On daily plotting also, the current price slides below DMAs on at 5,359.30 levels.
The European (ECB) very recently clarified that they are not interested in European Union backed cryptocurrency in the near future. Mario Draghi, ECB president further stated that there is no essentiality for the digital currency at this juncture and reaffirmed his trust that blockchain technology still requires some advancement before the ECB’s adoption in any way.
For now, more slumps in BTCEUR seem to be on cards upto the next strong support at 5302.90 levels upon & crossovers.
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at -55 levels (which is ), while hourly EUR spot index was at 39 (mildly ) while articulating at (13:17 GMT ).