BTC/EUR is seen trading below in red on Wednesday. The pair has jumped slightly till 545 from the low made on Sep 26th 2016 (COINBASE). It is currently trading around 543.76 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 538.50

Kijun-Sen level: 535.09

Trend reversal level - (100 days MA) - 558.80

Long-term trend remains to be bullish. In the daily chart, the pair is struggling to break above 21- day MA. So any break above that level targets 558.

Major resistance is around 545 (21-day MA) and any violation above will take the pair till 558.80 (100- day MA)/575 (50% retracement of 715 and 434.78). Short-term support is seen at 518.80 (Ichimoku Cloud) and any break below targets 513 (38.2% retracement of 434.58 and 562.30)/503 (Sep 2nd low).