BTC/EUR is seen trading slightly below on Thursday. The pair is trading in a narrow range between 673 and 713.82 for the past three trading days (COINBASE). It is currently trading around 705 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 682.36

Kijun-Sen level: 662.37

Trend reversal level - (100 day MA) – 580

Long-term trend remains to be bullish. In the daily chart, BTC/EUR is facing strong resistance around 715 and any break above confirms minor bullishness.

Major resistance is around 715 (161.8% retracement of 673 and 610)) and any violation above will take the pair till 740 (161.8% retracement of 714.95 and 673). Short term support is seen at 692 (10- day MA) and any break below targets 682 (daily Tenken-Sen)/668 (21- day MA)/ 634 (Nov 13th low).