BTC/EUR is seen hitting a fresh new high of the year. It is trading well above on Friday. The pair has broken the yesterday high of 834 and made a new year high at 879.34 levels (COINBASE). It is currently trading around 873.48 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 783

Kijun-Sen level: 760.85

Minor weakness level – 800 (3- day EMA)

Major reversal level -673 (Nov 20th low)

Long-term trend remains to be bullish. In the daily chart, BTC/EUR continues to gain momentum against EUR and trades near a fresh year high. Short term trend is still bullish as long as support 800 (3- day EMA) holds.

Major resistance is around 889 (161.8% retracement of 715.65 and 434.78) and any break above will take the pair to next level till 940/1000. Short term support is seen at 800 (3-day EMA) and any break below will drag the pair till 755 (trend line resistance turned into support) / 742 (21- day MA)/ 699 (Dec 6th, 2016 low).