BTC/USD has once again retreated after making a high of $576. It is currently trading at $568.84 (Bitstamp).

Long-term trend: bullish

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $574.90

Kijun-Sen level: $577.65

Trend reversal level - (90 EMA)-$588.80

“The pair is facing minor resistance at $576 (21 day MA) and break above targets $583.69/$589”, FxWirePro said in a statement.

Major resistance is around $583.69 (61.8% retracement of $603 and $552) and any break above targets $588.80 (90- day EMA)/ $595 (55- day EMA).

Short-term support is seen at $562 (daily Kijun-Sen) and any violation below targets $540 (38.2% retracement of $465 and $583) $510.10 (200 day MA).