BTC/GBP hit a fresh high of 549.99 levels on Tuesday and is currently trading slightly lower at 544.44 levels at the time of writing (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 522.92

Kijun Sen: 502.70

Trend reversal: 479.69 (90 EMA)

“The pair has taken support at 10-day MA and broken above the previous high of 540 levels. Both short-and long-term trend appears bullish for the pair and a jump till 575 seems likely”, FxWirePro said.

On the topside, a break above yesterday’s high of 549.99 levels would see further bullishness in the pair, taking it to 573 (113% retracement of 549.45 and 367.10).

On the flipside, support is seen at 528.59 (10-day MA) and a break below would target 518.74/505.84 (October 19 low).