BTC/USD continues to trade below 21-day MA at 575.97 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 575.38

Kijun Sen: 577.50

Trend reversal: 589.50 (90 EMA)

Long-term trend is bullish for the pair and major resistance is seen at 589.50 (90 EMA) and a break above would target 612.91 (100-day MA)/ 634 (161.8% retracement of 603 and 522.30).

On the flipside, support is likely to be found at 550 (psychological level) and any violation would see the pair falling to 521 (200-day MA)/465.28 (August 2 low). Short-term trend appears weak for the pair.