BTC/EUR is seen trading well below in red on Friday. The pair is trading in a narrow range between 673 and 714.84 for the past seven trading days (COINBASE). It is currently trading around 698.46 at the time of writing.

Ichimoku analysis of daily chart shows:

Tenkan-Sen level: 688.63

Kijun-Sen level: 662.37

Trend reversal level - (100 days MA) – 581.98

Long-term trend remains to be bullish. In the daily chart, BTC/EUR is facing strong resistance around 715 and any break above confirms minor bullishness.

Major resistance is around 715 (161.8% retracement of 673 and 610)) and any violation above will take the pair till 740 (161.8% retracement of 714.95 and 673). Short-term support is seen at 696 (10- day MA) and any break below targets 688 (daily Tenken-Sen)/672 (21- day MA)/ 634 (Nov 13th low).