BTC/EUR is seen trading below in red on Thursday. The pair has slightly jumped till 522 yesterday and declined from that level (CEXIO). It is currently trading around 508.78 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 524.91

Kijun-Sen level: 516.65

Trend reversal level - (90 days EMA)-535.81

Long-term trend remains to be bullish. In the daily chart, BTC/EUR is facing strong support at 500 and any violation below confirms major trend reversal.

Major resistance is around 535.81 (90 days EMA) and any break above will take the pair to next immediate resistance at 551 (55 days EMA)/568. Short-term support is seen at 500 and any break below targets 504 (23.6% retracement of 529.50 480 (Jun 23rd low)/455 (200 day MA).