BTC/EUR struggles to close above 90-day EMA, break above targets 565/600

BTC/EUR is seen trading slightly below on Monday. The pair has jumped till 546.67 yesterday and slightly declined from that level (CEXIO). It is currently trading around 537 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 511.90

Kijun-Sen level: 522.75

Trend reversal level - (90 days EMA)-539

Long-term trend remains to be bullish. In the daily chart, BTC/EUR is trading slightly above Tenken-Sen and Kijun-Sen but it should close above 90 day EMA for further bullishness.

Major resistance is around 540 (90 day EMA) and any break above will take the pair to next immediate resistance at 555 (61.8% retracement of 635 and 427)/565 (21 day MA). Short term support is seen at 504 (23.6% retracement of 529.50 and 427) and any break below targets 480 (Jun 23rd low)/447 (200 day MA).