BTC/GBP upside capped by 10-DMA, further bullishness only above 611

BTC/GBP upside is still being capped by 10-day MA and the pair has failed to break above this level. It is currently trading at 572.65 levels (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 573.21

Kijun Sen: 558.48

Trend reversal: 504.80 (90 EMA)

Major resistance is seen at 579 (10-day MA) and a break above would target 599.05 (127.2% retracement of 549.45 and 367.10). Further strength would see the pair testing 611.12 (November 03 high)/650.00.

On the reverse side, support is seen at 557.60 (21-day MA) and a break below would drag it to 535 (November 03 low)/525.56 (55 EMA).