BTC/EUR breaks major resistance at 636, jump till 683 likely

BTC/EUR is seen trading well above on Thursday. The pair breaks major resistance at 623 and jumped till the 632.09 levels (COINBASE).It is currently trading around 631.59 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 596.70

Kijun-Sen level: 583.20

Trend reversal level - (100 day MA) – 550.85

Long-term trend remains to be bullish. In the daily chart, BTC/EUR trades well above 61.8% retracement, a jump till 636/680 is possible.

Major resistance is around 636 (Jul 7th high) and any violation above will take the pair 650/683.11 (88.6% retracement of 715 and 434.58). Short-term support is seen at 605 (5- day MA) and any break below targets 588 (daily Tenkan-Sen) /577 (21- day MA).