BTC/GBP has restored its strength to 566 levels after it fell below the 550 mark on November 13 (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 574.24

Kijun Sen: 558.48

Trend reversal: 513.51 (90 EMA)

The pair has broken below the 571.90 (21-day MA) level and must break above this level for further upside. Any violation of this level would see the pair testing 589.71 (78.6% retracement of 601.29 and 547.20)/611.12 (November 03 high).

On the downside, it is likely to find support near 547.20 (November 13) and further weakness would see the pair falling to 535.30 (November 03 low)/ 513.51 (90 EMA).