BTC/EUR has recovered from the plunge and is seen trading above in green on Monday. The pair declined sharply after making a high of 635 levels (24th Jun 2016 high, CEXIO). It is currently trading at 594.09 at the time of writing.

Ichimoku analysis of 4-hour chart shows:

Tenkan-Sen level: 590

Kijun-Sen level: 559

Trend reversal level - (90 day EMA)-592.78

Long term trend remains to be bullish. BTC/EUR has taken support near 4H Tenkan-Sen and jumped till 610 at the time of writing from that level. So a slight jump till 635/647 is possible.

Major resistance is around 635 (24th Jun high) and any break above will take the pair to next immediate resistance at 647/669 (88.6% retracement of 692.56 and 483). Short term support is seen at 559 and any violation below will drag the pair till 539 (61.8% retracement of 635 and 483.35)/500.