The main intraday target is the next resistance at 1.3189 - 1.3216. If a pullback from these levels happens next...
Bitcoin (BTC/USD) piercing above bearish channel
The Bitcoin has put a brake on the fall that was sustained during the past weekend and is now recovering in an area of importance to sellers. This is because the BTC/USD pair broke a bearish channel and managed to consolidate above the 50-hour moving average. Now, the lights are on the road to the north.
The Parabolic SAR suggests that the price action remains intact in favor of the bulls, although it is an indication that it can last for a short time, because the sellers could appear in the current stage, thanks to the convergence that has with the moving average of 200 hours and in addition, the BTC is approaching the Fibonacci level of 50% in 8724.
What do we expect?
According to our forecasts in the short-term, cryptocurrency is finding support at the Fibonacci level of 78.6% in 7068, which suggests that the buying price action is concentrated around that area. Therefore, we can not rule out a rebound of Bitcoin towards the Fibonacci level of 38.2% in 9407, once it manages to fracture above the highs of March 16. The RSI remains in the overbought area.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…