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BTC/EUR faces trend line resistance at 600, break above targets 635/669

BTC/EUR is seen trading in the green on Tuesday. The pair is trading in narrow range between 562 and 610 levels (CEXIO)for the past two trading session.  It is currently trading at 596.01 at the time of writing.

Ichimoku analysis of 4-Hour chart shows:

Tenkan-Sen level: 590.73

Kijun-Sen level: 595.86

Trend reversal level - (90 4-hour EMA)-592.56

Long term and short term trend remains to be bullish. BTC/EUR is facing trend line resistance around 600 (trend line joining 689 and 635 and any break above targets 635/669 is possible.

Major resistance is around 615 (61.8% retracement of 692.66 and 483) and any break above will take the pair to next immediate resistance at 635 (24th Jun high)/ 669 (88.6% retracement of 692.56 and 483). Short term support is seen at 562 (26th Jun low) and any violation below will drag the pair till 539 (61.8% retracement of 635 and 483.35)/500.

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