BTC/GBP fell to 583 levels after it hit a fresh high of 621.47 levels on November 20. It has restored its strength above the 600 mark and is currently trading at 606 levels at the time of writing (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 584.33

Kijun Sen: 577.95

Trend reversal: 525.91 (90 EMA)

On the topside, resistance is seen at 621 levels (November 20 high) and a break above would target 628 (127.2% retracement of 611.12 and 547.20)/ 650.

On the downside, the pair has taken support near 583.93 (21-day MA) and a break below would weaken it to 568.22 (61.8% retracement of 535.30 and 621.47)/ 547.20 (November 13).