BTC/USD continues to trade flat on Tuesday and has slipped below the 9-EMA. It is currently trading at 606 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 611.81

Kijun Sen: 596.90

Trend reversal: 594.73 (90 EMA)

On the upside, the pair is facing minor resistance around 610 levels and should break above this levels for further upside. It will run into major resistance at 628.43 (100-day) and a break above would target 653.69 (78.6% retracement of 704.99 and 465.28)/ 705 (July 3 high).

On the reverse side, the pair has taken support near 600 levels (55 EMA) and is trading above that level. A break below will further weaken it to 594.73 (90 EMA)/ 547.14 (50% retracement of 465.28 and 628.99)/ 540.20 (200-day MA).