BTC/EUR lost its momentum and is trading in the red around $611.76 levels at the time of writing. The pair has made new all time high around 638.51 levels (CEXIO) yesterday and slightly declined till 608.

Ichimoku analysis of 4-hour chart shows:

Tenkan-Sen level: $604.95

Kijun-Sen level: $570

Trend reversal level - (90 day EMA)-$518

Long term trend continues to remain bullish. Major resistance is seen at $640 (yesterday’s high) and any break above targets 662 (2.618% retracement 451 and 320)/750. Short term support is seen at 603 (10 4H EMA) and any violation below will drag the pair till 570/ 540(55 4H EMA). RSI (14) is in over bought zone and so uptrend correction till 540 is possible.